Photo from UNIAN
Ukraine expects to receive $300 million of loan from one of the country's key lenders - the European Bank for Reconstruction and Development (EBRD) in early November for the purchase of gas from European consumers, Naftogaz chief Andriy Kobolev said at a briefing on Friday.
"On October 23, Ukraine and the EBRD are planning to sign a loan agreement to provide Naftogaz Ukrainy with a loan of $300 million for the purchase of gas from European consumers," he said.
According to Kobolev, two documents will be signed - the loan agreement and the guarantee agreement, because a state guarantee is a loan collateral. "Not just some assets, but a state guarantee," he said.
Kobolev also said that the signing ceremony will be held in Berlin.
Read alsoEBRD remains a believer in Ukrainian investment: Kyiv PostThe decision to grant the loan was taken at a meeting of the EBRD Board of Directors on September 30, 2015. Francis Malige, the Managing Director for Eastern Europe and the Caucasus for the EBRD, said the loan agreement would be signed by the end of October.
One of the EBRD's requirements for the allocation of funds was the adoption of corporate governance reform plan in Naftogaz Ukrainy, involving among other things the creation of a broader Supervisory Board, which would include representatives from the government and international organizations.
As UNIAN reported earlier today, the Cabinet approved the plan of Naftogaz's corporate governance on Friday.