Latest news with #UkraineInvestmentFramework
Euronews
4 days ago
- Business
- Euronews
EU signs €500 million loan to secure Ukraine's energy security
The European Commission signed a guarantee agreement with the European Bank for Reconstruction and Development (EBRD) to mobilise €500 million for Ukraine's energy sector. The loan, which would be financed under the EU's Ukraine Investment Framework, would allow Ukraine's state-owned Naftogaz to finance emergency gas purchases. The agreement aims to restore energy sources ahead of the autumn and winter months. Russia has recently intensified its attacks on energy infrastructure, causing storage reserves to drop to their lowest level in more than a decade, local media reported. "These attacks on civilian infrastructure occurring at increased intensity in the first half of 2025 have resulted in significant production losses and a stress situation on the reserves of the country ahead of the next winters," the European Commission wrote in a statement on Wednesday. The energy company confirmed it would source natural gas competitively from over 30 prequalified suppliers and that its contracts would meet European standards. "This is a clear signal that our partners understand the scale of the threat posed by Russia. Energy security today and energy independence in the future are our strategic priorities," Sergii Koretskyi, Chief Executive Officer of Naftogaz said. Ukraine's Prime Minister Yulia Svyrydenko called it a "record-breaking agreement for Ukraine" in a post on Telegram, adding that it is the EBRD's largest project in the country. "For the first time, such a loan is provided under EU guarantee, without Ukraine's state guarantee," Svyrydenko said. "This will allow Ukraine to better prepare for the heating season and provide Ukrainian homes with heat and light even on the most difficult days of winter," she added.
Straits Times
10-07-2025
- Business
- Straits Times
EU announces $3.4 billion in Ukraine reconstruction support
Sign up now: Get ST's newsletters delivered to your inbox ROME - The European Commission on July 10 announced 2.3 billion euros (S$3.4 billion) in support to Ukraine to help it rebuild after the damage caused by Russia's full-scale invasion. The funds include 1.8 billion euros in loan guarantees and 580 million euros in grants from international and bilateral public financial institutions, EU Commission President Ursula von der Leyen said at a conference in Rome on plans for Ukraine's reconstruction. Hundreds of Russian drones and more than a dozen missiles bore down on Kiev on July 10, killing two people in the second massive air strike in two days, as Ukraine sought critical aid from its partners at the meeting in Rome. The 2.3 billion euros is part of the Ukraine Investment Framework, which Ms von der Leyen said is expected to mobilise up to 10 billion euros of investments in Ukraine. She also announced the creation of a new equity fund for the reconstruction of Ukraine, backed by the European Investment Bank, France, Germany, Italy and Poland. With an initial capital of 220 million euros, the fund aims to mobilise 500 million euros by 2026, the Commission said. REUTERS
The Star
10-07-2025
- Business
- The Star
EU announces 2.3 billion euros in Ukraine reconstruction support
ROME (Reuters) -The European Commission announced 2.3 billion euros ($2.7 billion) in support to Ukraine on Thursday to help it rebuild after the damage caused by Russia's full-scale invasion. The funds include 1.8 billion euros in loan guarantees and 580 million euros in grants from international and bilateral public financial institutions, EU Commission President Ursula von der Leyen said at a conference in Rome on plans for Ukraine's reconstruction. Hundreds of Russian drones and more than a dozen missiles bore down on Kiev on Thursday, killing two people in the second massive air strike in two days, as Ukraine sought critical aid from its partners at the meeting in Rome. The 2.3 billion euros is part of the Ukraine Investment Framework, which von der Leyen said is expected to mobilise up to 10 billion euros of investments in Ukraine. She also announced the creation of a new equity fund for the reconstruction of Ukraine, backed by the European Investment Bank, France, Germany, Italy and Poland. With an initial capital of 220 million euros, the fund aims to mobilise 500 million euros by 2026, the Commission said. ($1 = 0.8526 euros) (Reporting by Bart MeijerEditing by Bernadette Baum)
Straits Times
10-07-2025
- Business
- Straits Times
EU announces 2.3 billion euros in Ukraine reconstruction support
Sign up now: Get ST's newsletters delivered to your inbox ROME - The European Commission announced 2.3 billion euros ($2.7 billion) in support to Ukraine on Thursday to help it rebuild after the damage caused by Russia's full-scale invasion. The funds include 1.8 billion euros in loan guarantees and 580 million euros in grants from international and bilateral public financial institutions, EU Commission President Ursula von der Leyen said at a conference in Rome on plans for Ukraine's reconstruction. Hundreds of Russian drones and more than a dozen missiles bore down on Kiev on Thursday, killing two people in the second massive air strike in two days, as Ukraine sought critical aid from its partners at the meeting in Rome. The 2.3 billion euros is part of the Ukraine Investment Framework, which von der Leyen said is expected to mobilise up to 10 billion euros of investments in Ukraine. She also announced the creation of a new equity fund for the reconstruction of Ukraine, backed by the European Investment Bank, France, Germany, Italy and Poland. With an initial capital of 220 million euros, the fund aims to mobilise 500 million euros by 2026, the Commission said. REUTERS
