The EBRD does not expect the breakdown of allocation of loan to Ukraine for $300 million

The EBRD does not expect the breakdown of allocation of loan to Ukraine for $300 million


Managing Director of EBRD for Eastern Europe and the Caucasus Francis Malizh noted that the loan to Ukraine was approved by the EBRD Board of Directors, therefore, most likely, the money Ukraine will go.

MINSK, 15 Oct. The European Bank for reconstruction and development expects the breakdown of allocation of loan to Ukraine for $ 300 million intended for payment procured by Kiev to Europe’s gas, said the managing Director of EBRD for Eastern Europe and the Caucasus Francis Malizh.

“There is reason to believe that all will be given, as it (the loan) was approved by the EBRD Board of Directors,” said Malizh at a press conference on Thursday.

The EBRD Board of Directors in late September approved the allocation of this loan to “Naftogaz of Ukraine” under the guarantee of the government. However, at the appointed time the loan agreement between the parties was not signed due to the fact that EBRD is not satisfied with the Kiev approved a plan to reform the system of corporate management of “Naftogaz”.

Prime Minister of Ukraine Arseniy Yatsenyuk said earlier Thursday that October 16 will convene a meeting with Western financial institutions for the settlement of disputes, which are an obstacle to the granting Kyiv access to $ 300 million EBRD loan. According to him, the allocation of funds has jeopardized the position of the Ministry of energy of Ukraine.