Galnaftogaz inks USD 50 mln deal with EBRD
9 July 2009
Galnaftogaz (GLNG) announced yesterday on its website that it signed an agreement with the European Bank for Reconstruction and Development, which envisions a USD 50 mln capital injection by the EBRD to Galnaftogaz. The measure was approved by the EBRD’s board of directors in mid-June. The funds are planned to be directed to Galnaftogaz’ investment program through 2012, and energy efficiency. The EBRD and Galnaftogaz signed the relevant letter of intent in February. See our June 17 news for more information.
