Ukraine will have gas in winter - Europe has found money for a loan

The Board of Directors of the European Bank for Reconstruction and Development approved a decision to provide NJSC Naftogaz of Ukraine with a loan in the amount of $300 million. The funds will be used to purchase about 1,2 billion cubic meters of gas from European suppliers, and the purchase of this volume of fuel by reverse from the EU was agreed upon in during trilateral negotiations Ukraine-Russia-European Union in Brussels on September 25.

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The bank's decision was announced by the EBRD's leading advisor for external relations, Anton Usov.

According to him, the loan agreement between the bank and NJSC Naftogaz of Ukraine is planned to be signed next week.

The loan will be revolving - the so-called “revolver”, that is, the EBRD will be able to allocate an amount of $300 million annually for three years, subject to repayment of the debt. At the same time, NAC will not be able to use all the funds, but only a part, depending on the required volume of gas purchases.

Gas will be purchased from European suppliers under the EBRD's terms of procurement of goods and services, which include open auctions.

As Usov clarified, the winner of the tender will receive an amount equal to the cost of gas, after which he will be able to supply NAC with the paid volume of the resource. Thus, there will be no actual transfer of the loan to Naftogaz accounts.

“Financial relations will be built between the supplier and the financier, and the customer, that is, Naftogaz, receives gas,” said a representative of the European Bank for Reconstruction and Development.

At the same time, the repayment of the Naftogaz loan will be carried out directly by the EBRD.

The loan for the EBRD will not be risky, a bank representative noted, since it will be issued under government guarantees. At the same time, Usov did not specify the interest rate of the loan.