(AGENPARL) - Roma, 14 Ottobre 2022 - (AGENPARL) – ven 14 ottobre 2022 OFFICIAL USE
EBRD press release
Canada and EBRD join forces to support Ukraine’s Naftogaz
€36.5 million guarantee from Canada to help Ukraine purchase gas before winter
FOR IMMEDIATE RELEASE
Date: 14/10/2022
Contact: Lucia Sconosciuto
Twitter: [@ebrd](https://twitter.com/ebrd)
Tags: #Canada #SupportingUkraine #EBRDdonors
·Canada and EBRD support Naftogaz, Ukraine’s state-owned gas company, with finance and risk-sharing support to maintain operations despite Russian invasion
·Canada signs first dedicated guarantee of €36.5 million to enable, together with others, a €300 million EBRD loan to support critical gas purchases for Ukrainian households and businesses before winter
The timely contribution will support NAK in purchasing gas ahead of the winter season to secure heating in households, schools and offices, to produce electricity and to keep the economy going.
“Canadians are firmly committed to supporting the government and people of Ukraine in their fight against Vladimir Putin’s illegal and barbaric invasion,” said Canada’s Deputy Prime Minister and Minister of Finance, Chrystia Freeland. “With this €36.5 million loan guarantee, Canada is supporting the EBRD to offer a €300 million loan which will help Ukraine purchase the heating fuel it needs before winter. It is Canada’s strong conviction that Ukraine must win this war to defend its sovereignty, democracy, and the rules-based international order.”
“We are extremely grateful for this important contribution from Canada which reaffirms our long-standing partnership and sees us united in supporting Ukraine, its people and its economy ahead of a very difficult winter. The EBRD is on track to invest over €1 billion in Ukraine this year and none of this would have been possible without the strong support of donors like Canada,” the EBRD’s President, Odile Renaud-Basso, said. To address the Ukrainian economy’s most pressing needs, the EBRD is prioritising trade finance, energy security, vital infrastructure, food security and providing liquidity to pharmaceutical companies. Investments in all areas will involve risk-sharing with partners.
Canada is unequivocal in its support to Ukraine and has already imposed, and will continue further imposing, forceful economic and financial sanctions on Russia and Belarus. Canada has committed over $3.4 billion CAD in military, humanitarian, and other assistance to Ukraine so far this year, including $1.95 billion CAD in loans which have been fully disbursed, to help meet Ukraine’s urgent balance of payments needs and support its macroeconomic stability.
OFFICIAL USE
To learn more about EBRD classifications, visit www.ebrd.com/ic
______________________________________________________________