The loan, amounting to USD 500 mln from Citybank and Deutsche Bank under the guarantees of World Bank, will be allocated for covering of cash shortages of NJSC “Naftogaz of Ukraine”, the state holding’s CEO Andrey Kobolev said to 5 Channel, Interfax-Ukraine reports.
“The loan will be used, first of all, for covering cash shortages of Naftogaz, which will be caused, for example, by the decisions, as per which we will receive money by equal instalments for heating and, respectively, for gas from the consumers of Ukraine”, he said.
According to him, the allocation of loan will allow the state holding to continue the current import of significant volumes of natural gas (47-50 mln cub.m. per 24 hours), which will allow the country to steadily go through the heating season 2016/2017.
Kobolev specified that the cost of attracted loan resource from Citybank and Deutsche Bank, which won the respective tender, is low; its interest rate makes up to 3% per annum.
“The funds are virtually allocated for a year, this is the revolving line, then it will be launched again, when we repay it, and the cost of these loan resources is less than 3 years”.
As reported, the World Bank’s Management Board took the decision on provision of the guarantee to Naftogaz for the loan, amounting to USD 500 mln, for gas purchase.
