KIEV (Sputnik) – Ukraine's state-run energy company Naftogaz said Monday it will allocate funds from a $300 million loan provided by the European Bank for Reconstruction and Development (EBRD) to purchase natural gas from the European Union.
"The project is estimated at up to $300 million, and envisions purchases of natural gas for delivery to Ukraine via connecting pipelines from the European Union," Naftogaz said in a statement.
According to the document, Ukraine is also holding talks with the World Bank on a $500-mln loan and with the International financial Corporation (IFC) on a $250-mln loan to cover future gas purchases from Europe.
