The operation builds on the EIB’s earlier €300 million loan to Naftogaz and complements broader EU support, including €127 million in grant funding for gas procurement enabled by the Norwegian government through its contribution to the Ukraine Investment Framework. The loan forms part of the EIB’s Ukraine Energy Rescue Plan and is delivered within a coordinated Team Europe approach. It is made possible by the European Commission through the derisking mechanism of the EU’s Ukraine Investment Framework. The European Investment Bank is the EU’s long-term lending institution, owned by its Member States. In April 2022, Energy Support Fund for Ukraine was established by the Energy Community.