Ukraine may get up to USD 0.7 bln in new loans for gas purchases
11 August 2015
The Ukrainian government is in the process of negotiations with the World Bank and IFC to receive up to USD 500 mln and USD 250 mln, respectively. The loans are targeted to finance the purchase imports of natural gas, the Interfax-Ukraine news agency reported on Aug. 10, citing Ukrainian Energy Minister Volodymyr Demchyshyn.
Last week, Naftogaz reported it might receive a USD 300 mln EBRD loan for gas purchases in September 2015.
Alexander Paraschiy: Given long compliance procedures, it would be good if Ukraine is able to secure at least one of the announced loan tranches from IFIs. In any case, the willingness of IFIs to help Ukraine accumulate gas stocks for winter season is real progress compared to last year, when no one was ready to help the nation solving its two simultaneous problems, which were the deficit of natural gas and deficit of foreign cash.
