22:00 GMT21 January 2021
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    Naftogaz will use funds from a $300 million loan provided by the European Bank for Reconstruction and Development (EBRD) to purchase natural gas from the European Union.

    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.

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    Tags:
    gas, European Bank for Reconstruction and Development in Europe (EBRD), Naftogaz, Ukraine
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