REUTERS
The Board of Directors will consider the loan project on July 24.
The European Bank for Reconstruction and Development (EBRD) could provide National Joint Stock Company Naftogaz of Ukraine with a EUR 60 million loan to cover gas imports in preparation for the next heating season.
As reported on the EBRD website, the Board of Directors is planning to consider the loan project on July 24.
It is noted that the support of the EBRD in the form of a letter of credit will cover up to 20-30% of Naftogaz's payment risk related to the financing of gas purchases.
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As UNIAN reported earlier, Naftogaz plans to significantly increase gas reserves in Ukraine's underground storage facilities before the 2019-2020 heating season, up to 20 billion cubic meters, while by the beginning of the latest heating season the country had accumulated 17.2 bcm of gas, which was a record figure over the past six years.
At the same time, according to Naftogaz CEO Andriy Kobolyev, a shortage of working capital may hinder the fulfillment of the plan, but the company is working on raising funds necessary for the purchase and injection of gas into storage facilities.
UNIAN memo. The EBRD has been working in Ukraine since 1993 and is the largest international financial investor. According to the Ministry of Finance of Ukraine, the EBRD over the period of cooperation has financed 410 projects in Ukraine totaling EUR 13 billion, of which seven projects worth EUR 1.577 billion were launched in the public sector.