EBRD delays consideration of Naftogaz loan until spring

The board of the European Bank for Reconstruction and Development did not consider allocation of a new USD 300 mln loan to Naftogaz of Ukraine, news agencies reported yesterday. The loan proceeds were to be used to purchase natural gas. Local EBRD representative Anton Usov said the loan would likely only be put forward to the EBRD board in spring 2010. Usov said the USD 300 mln was the first-stage of a project that also foresees the allocation of up to USD 900 mln in loans by the EBRD and European Investment Bank for infrastructure development and energy efficiency.