KYIV, June 14 – The European Bank for Reconstruction and Development (EBRD) will lend up to EUR 300 million to Naftogaz Ukrayiny, of which EUR 50 million is immediately available for emergency gas imports.

According to a press release from the bank on Tuesday, financial assistance to Naftogaz for the purchase of gas was provided to compensate for the loss of natural gas production following the invasion of Ukraine.

All EBRD investments in Ukraine under this package involve risk-sharing. In Naftogaz's case, EBRD shareholders will guarantee 66% (EUR 200 million) of the total EBRD loan, which also backed by Ukraine's sovereign guarantee. After the initial payment, donor guarantees will cover all of the next EUR 100 million paid and 66% of the final EUR 150 million.