European Bank will give 150 million to modernize the Ukrainian pipeline
Ukraine and the European Investment Bank (EIB) signed an agreement on the financing of the modernization of the main gas pipeline Urengoy-Uzhgorod- Pomar in the amount of 150 million euros. The corresponding agreement was signed by the Prime Minister and the President EIB.
As reported the Cabinet of Ministers of Ukraine on October 22 its order №1143-P agreed to attract EUR150 million from the EIB and up to $ 200 million from the European Bank for Reconstruction and Development (EBRD) to upgrade the «Urengoy-Uzhgorod–Pomar». According to the document these funds the government is ready to give the operator GTS «Ukrtransgaz» for the project in the form of sub-loans at 2% per annum on the unpaid amount and selected.
EIB in the second half of October approved a loan EUR150 million for reconstruction Ukrainian gas transportation system operator «Ukrtransgaz».
In addition, the possibility of allocating up to $ 200 million state loan for the reconstruction of the Ukrainian gas pipeline said the European Bank for Reconstruction and Development (EBRD). Its board of directors plans to review the project on December 10 of that year.
