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EBRD Interested In Investing In Coal Sector Development

EBRD Interested In Investing In Coal Sector Development

23 March 2008

Following a meeting with Coal Minister Sergey Tulub, yesterday  European Bank for Reconstruction and Development (EBRD)  Director Kamen Zakhariev said that his bank was interested in providing financing for reforms in Ukraine’s coal sector. Eugene Cherviachenko: The EBRD’s interest in Ukrainian coal is driven by the wave of upcoming privatizations in the sector. Around 60% of total produced coal in Ukraine last year was mined at state owned mines. It is likely the EBRD wants to participate in methane extraction projects as well as financing the development of Ukrainian anthracite coal mines, which all are state-owned. Ukraine annually exports nearly 3-3.5 mln mt of anthracite (60% of total coal exports) primarily to European countries.

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