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Ukraine's Naftogaz could get $500 mln gas loan from EBRD

© RIA Novosti . Sergey Starostenko / Go to the photo bankNafrogaz Ukrainy central office
Nafrogaz Ukrainy central office - Sputnik International
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Ukraine's gas monopoly Naftogaz could receive a 350-400 million euro ($450-500 mln) loan from the European Bank for Reconstruction and Development (EBRD), the acting finance minister said on Tuesday.

LONDON, September 29 (RIA Novosti) - Ukraine's gas monopoly Naftogaz could receive a 350-400 million euro ($450-500 mln) loan from the European Bank for Reconstruction and Development (EBRD), the acting finance minister said on Tuesday.

"At present, 350-400 million is being considered. We are continuing to discuss with the EBRD the amount and commercial terms," Ihor Umanskiy said, adding that the figures were in euros.

The European Commission said on Monday progress had been made on a loan to enable Ukraine to pay for Russian gas deliveries.

The ex-Soviet state is seeking a syndicated loan of over $4 billion from European banks to pay it debts to Russian energy giant Gazprom through November 2009.

European Commission President Jose Manuel Barroso said in early June it would be difficult for the EU to help Ukraine keep up with its payments.

Russia, which supplies around one fifth of Europe's gas, briefly shut down supplies via Ukraine's pipeline system at the start of the year during a dispute with Kiev over unpaid debt.

The conflict was resolved in January, when Russian Prime Minister Vladimir Putin and his Ukrainian counterpart, Yulia Tymoshenko, agreed deals on deliveries to and gas transit through Ukraine for 2009.

Ukraine transits around 80% of Russia's Europe-bound gas.

 

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