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Ukraine expects to get loan for GTS modernization in September

Posted by the Editor on May 13, 2013


News / 13 May 2013 | 16:38

Ukraine expects to get loan for GTS modernization in September

Ukraine expects to get loan for GTS modernization in September

In September this year, Ukraine expects to receive funds from the European Investment Bank and the EBRD for the modernization of the GTS, energy and coal industry minister of Ukraine Eduard Stavytsky told a news conference after talks in Brussels on the development of the gas market of Ukraine, ForUm correspondent reports.
“As a result of the round table, it was decided on accelerating disbursements in the amount of $ 308 million to modernize the Ukrainian gas transportation system,” he said.
According to the minister, the technical side of this issue is already worked out and a credit line may be opened in September this year.

“Priority project for funding is the first phase of the project “Modernization and reconstruction of the main gas pipeline “Urengoy – Pomary – Uzhgorod”, the value of which, according to preliminary estimates, will amount to 519 million dollars, including the expense of the EBRD and the EIB on a par (308 million). The rest is at own expense of “Naftogaz of Ukraine”. Other stages of financing of projects are planned to be performed with the involvement of IBRD lending,” he said.

As for the amount of interest on the loan, Stavytsky stressed that he still has no right to voice it until an agreement is signed. “However, interest is at the level of those in the EU,” the minister assured.

ForUm

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