REUTERS
Ukraine's Cabinet of Ministers agreed on the attraction of domestic short-term loans worth UAH 3.5 billion, or US$133.8 million, by the national oil and gas holding NJSC Naftogaz of Ukraine from Ukrgazbank to purchase gas and cover the company's money gap, according to Resolution No. 377-p, published in the official government gazette Uriadovy Kurier.
According to the document, the first loan will be provided in the form of a multi-currency revolving credit line with a credit limit of UAH 2 billion, while the second one as a non-revolving credit line with a credit limit of UAH 1.5 billion.
Read alsoPoroshenko insists on political liability for 2009 gas contract with RussiaThe loans will be raised to cover the company's temporary cash deficiency, ensure the stable functioning of Ukraine's gas transport system, and meet the needs of Ukrainian energy consumers in the 2017-2018 heating season.
Read alsoNaftogaz rejects Gazprom's call for talks in MoscowAs UNIAN reported earlier, the Cabinet had ordered to terminate the agreement on the pledge of property rights between the state-run Oschadbank and Naftogaz worth UAH 17.5 billion, as well as prohibited the state bank from imposing penalties on Naftogaz for non-fulfillment of financial obligations.