Naftogaz Secures Landmark €500 Million Loan Without State Guarantee

Ukraine's Naftogaz has achieved a significant milestone by securing a €500 million loan from the European Bank of Reconstruction and Development for gas purchases. This agreement marks a first, as the loan is provided under EU guarantees and does not require the Ukrainian state's backing.

Ukraine's state oil and gas firm, Naftogaz, has secured a groundbreaking €500 million loan agreement with the European Bank of Reconstruction and Development. The loan, intended for gas purchases, is notable for not requiring a state guarantee from Ukraine, a first of its kind deal under EU guarantees.

Prime Minister Yuliia Svyrydenko announced the agreement via Telegram, highlighting the strategic importance of this financial collaboration. Naftogaz CEO Serhiy Koretskyi emphasized on Facebook the significance of obtaining the loan without the normally requisite state assurance.

This financial maneuver underscores a new phase in Ukraine's energy sector, potentially stabilizing its gas purchase strategies while bolstering energy resilience within the region.

(With inputs from agencies.)