EIB Provides €50m Emergency Loan to Secure Ukraine’s Energy Through Winter

The emergency loan will enable Ukraine to import natural gas as temperatures fall sharply and pressure on the energy system intensifies amid continued attacks on critical energy infrastructure.

The European Investment Bank (EIB) has signed €50 million in urgent long-term financing with Ukraine’s state-owned energy utility Naftogaz to help stabilise the country’s energy system and secure heating and electricity supplies during the harsh winter months.

The emergency loan will enable Ukraine to import natural gas as temperatures fall sharply and pressure on the energy system intensifies amid continued attacks on critical energy infrastructure. The funding is aimed at protecting households, hospitals, schools, essential services and businesses from severe power and heating shortages.

The operation builds on the EIB’s earlier €300 million loan to Naftogaz and complements wider European Union support, including €127 million in EU grant funding for gas procurement enabled through Norway’s contribution to the Ukraine Investment Framework. Together, the measures form part of a coordinated EU and partner response to Ukraine’s most urgent winter energy needs.

As part of the agreement, Naftogaz has committed to reinvesting an amount equivalent to the EIB financing into renewable energy and decarbonisation projects. This ensures that immediate energy security measures are paired with long-term efforts to transition Ukraine’s energy system toward cleaner and more resilient sources.

The financing is delivered under the EIB’s Ukraine Energy Rescue Plan and follows a Team Europe approach, with backing from the European Commission through the derisking mechanism of the EU’s Ukraine Investment Framework. The loan includes strict safeguards to prevent the import of Russian gas and requires continued adherence to transparency and good governance standards.

EIB Vice-President Teresa Czerwińska said the additional funding comes at a critical moment, as winter temperatures in parts of Ukraine fall to minus 20 degrees Celsius and large numbers of people face disruptions to electricity, heating and water supplies. She said the EIB is acting quickly to protect communities, maintain essential services and strengthen Ukraine’s energy resilience in the face of ongoing attacks.

European Commissioner for Enlargement Marta Kos said the scale of damage to Ukraine’s energy system means further international support remains urgently needed, as civilians face extreme conditions and displacement during winter. She said the €50 million loan is part of a broader package of measures being mobilised to help Ukrainians survive the cold months.

Norwegian Foreign Minister Espen Barth Eide said Norway and the EU are working closely to ensure Ukraine has the gas supplies needed to maintain electricity and heating and to support national resilience during winter.

Naftogaz Chief Executive Officer Sergii Koretskyi said the financing allows the company to act swiftly to stabilise the energy system under winter conditions and sustained attacks, and thanked the EIB, the European Commission and international partners for their timely and consistent support.

European officials say the agreement highlights the importance of rapid financing, strong safeguards and long-term planning, and they are encouraging partners and investors to continue supporting Ukraine’s energy security and green transition as winter conditions intensify.