Ukraine’s energy giant Naftogaz has already repaid one tranche of the nearly €1 billion ($1.17 billion) it borrowed from the EBRD for emergency gas purchases, EBRD President Odile Renaud-Basso told Kyiv Post during her visit to Kyiv, although the bank declined to disclose the exact size of the tranche. “This year, they just returned a huge facility… I can just say currently everything is on plan,” Renaud-Basso told Kyiv Post. JOIN US ON TELEGRAMFollow our coverage of the war on the @Kyivpost_official. The EBRD is Ukraine’s largest investor among the international financial institutions, financing both Ukraine’s urgent needs and reconstruction efforts. In 2022-2025, the EBRD provided nearly €1 billion ($1.17 billion) for emergency gas purchases, including €770 million ($901 million) mobilized in 2025, of which €500 million ($585 million) was backed by European Commission guarantees and €270 million ($316 million) provided as a revolving credit line under signed agreements with state guarantees, according to Ukraine’s Ministry of Finance. Because the EBRD loan was structured solely for gas purchases, Naftogaz repays tranches as soon as the purchased gas is sold – a revolving facility to urgently purchase gas since Russia destroyed the majority of Ukraine’s domestic gas production. “The way the system works is purely for gas purchases. We don’t finance long-term CAPEX currently for Naftogaz. So they buy the gas, sell it, return the money, and then reborrow it. So it’s a revolving kind of facility,” Renaud-Basso told Kyiv Post.