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World Bank to Allocate $200Mln to Ukraine’s Naftogaz to Buy Gas From France

© AFP 2021 / SERGEY BOBOKA picture shows a compressor station of Ukraine's Naftogaz national oil and gas company near the northeastern Ukrainian city of Kharkiv on August 5, 2014.
A picture shows a compressor station of Ukraine's Naftogaz national oil and gas company near the northeastern Ukrainian city of Kharkiv on August 5, 2014. - Sputnik International
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$200 million to acquire natural gas from France's Engie will be provided by the World Bank to Ukraine's Naftogaz.

MOSCOW (Sputnik) — The International Finance Corporation (IFC), part of the World Bank, will provide Ukraine’s national oil and gas company Naftogaz with up to $200 million to acquire natural gas from France's Engie, according to a statement published Friday.

Naftogaz headquarters - Sputnik International
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The credit will be provided under a framework contract signed by Naftogaz and Engie for a period of up to one year.

The loan was approved on December 17 by the IFC board of directors, but the documents have not yet been signed.

In late November, the government of Ukraine instructed Naftogaz to halt all future purchases of Russian gas, saying the pricing being offered by the country’s European partners was much lower than that offered by Moscow.

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