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  • Statement by Vice-President Sefcovic following the EBRD lending agreement to Ukraine
    опубліковано 24 жовтня 2015 року о 09:38

    I welcome today´s loan agreement for USD 300 million between the European Bank for Reconstruction and Development (EBRD) and Ukraine to finance purchases of gas for the coming winter. I am very optimistic that also thanks to this agreement, the citizens and businesses in Ukraine will have a warm winter in their homes and premises.


    Background information:

    The sovereign guarantee agreement for the loan, signed today in Berlin between the EBRD First Vice-President, Phil Bennett, and Ukrainian Minister of Finance, Natalie Jaresko, in the presence of German Chancellor, Angela Merkel, and the Prime Minister of Ukraine, Arseniy Yatsenyuk, contributes to the smooth implementation of the Binding Protocol on gas delivery from Russia to Ukraine until 31 March 2016, mediated by the European Commission. The loan is tied to a programme of corporate governance reforms at NJSC (National Joint Stock Company) Naftogaz the national energy company.


    The European Commission has organised through European and international financial institutions the necessary assistance to finance gas purchase of Ukraine. Earlier this month, [on 9 October]  the European Investment Bank (EIB) and World Bank signed an agreement, by which EIB will  guarantee up to USD 520 million of selected World Bank loans in Ukraine, which will enable the World Bank to guarantee letter of credit facilities for gas purchases by Naftogaz. This agreement was facilitated by a counter-guarantee of the European Union granting comprehensive cover to the EIB linked to risks of these selected WBG loans in Ukraine.


    European Commission