Short description of the overall project

The development objective of the Gas Supply Security Facility Project for Ukraine is to enhance Naftogaz’s ability to increase Ukraine’s security of gas supply, by facilitating access to cost-effective financing and improving the terms of the gas supply contracts supported under the project.

Short description of activities financed by the donation

The project is composed of one investment project financing (IPF) component, support for Naftogaz’s gas purchases. The component is supported by an International Bank for Reconstruction and Development (IBRD) payment guarantee amounting to the Euro equivalent of United States (U.S.) 500 mil. USD, in support of Naftogaz gas purchases from suppliers which will meet eligibility criteria, including Naftogaz’s current Eastern and Western gas suppliers.