The European Bank for Reconstruction and Development (EBRD) is planning to provide $150 million in financing for the modernization of Ukraine’s gas transport system, The Moscow Times reports. The entire project is likely to cost nearly $310 million, adds Kyiv Post.
The EBRD is considering financing 50 percent of the total cost, while the remaining 50 percent will funded by European Investment Bank. The loan will be issued under governmental guarantee to the national energy company Naftogaz of Ukraine, subject to the gas-transport company’s restructuring.
Click here for the story from The Moscow Times.
Click here for additional coverage from Kyiv Post.