The European Bank for Reconstruction and Development (EBRD) and International Finance Corporation (IFC) will provide USD 500 million to the Naftogaz of Ukraine state oil and gas company for purchase of natural gas. The press service of the National Bank of Ukraine announced this in a statement, citing the bank’s Governor Valeria Hontariova, the Interfax Ukraine news agency reports.
"Purchase of gas for the winter awaits us, but it will be financed with Naftogaz’s credit funds from international organizations. They will now receive a credit line of USD 300 million from the EBRD. The IFC will provide USD 200 million," the press service quoted Hontariova as saying.
According to the National Bank of Ukraine, Naftogaz of Ukraine has bought USD 700 million on the market in the past four months.