Ukraine receives over €400 million from the EBRD to prepare for the heating season

On 25 April, a cooperation agreement to strengthen Ukraine's energy security was signed in Washington, D.C., including the allocation of more than €400 million to prepare for next winter.

The signing took place during a meeting between Ukrainian Prime Minister Denys Shmyhal and European Bank for Reconstruction and Development (EBRD) President Odile Renaud-Basso, the Government Portal reports.

The agreement provides for the attraction of 270 million euros from the EBRD under state guarantees. In addition, this loan agreement will be accompanied by a significant grant of €140 million from the Government of Norway. The money will be used to support NJSC «Naftogaz of Ukraine» and will allow the company to import the necessary volumes of natural gas to ensure a stable passage of the next heating season.

Special attention was paid to the issue of supporting the private sector, in particular small and medium-sized businesses, which are important for the country's economic recovery. Denys Shmyhal and Odile Renaud-Basso also discussed plans to rebuild Ukraine immediately after the end of hostilities and the country's long-term development strategy.

«The EBRD will continue to be a reliable partner of Ukraine in implementing initiatives that make us stronger in order to withstand, recover and grow,» the Prime Minister stressed.

As a reminder, the heating season in Mykolaiv ended on 24 March. However, the heat is still being supplied to kindergartens, hospitals, maternity hospitals and outpatient clinics.