One of the key creditor of Ukraine, the European Bank for reconstruction and development and the government of Ukraine signed a loan agreement to provide loan of $ 300 million. for the purchase of gas from European suppliers, writes UNIAN.
According to the EBRD representative office in Ukraine, the agreement was signed on the basis of the decision of the Board of Directors of the EBRD on a loan, and after the parties agreed on a reform of key energy countries «Naftogaz of Ukraine».
The loan agreement was signed in Berlin, EBRD’s managing Director for energy and natural resources Riccardo Puliti and Chairman of the Board NAK «Naftogaz of Ukraine» Andrey Kobelev in the framework of Ukrainian-German business forum, which is attended by Prime Minister of Ukraine Arseniy Yatsenyuk and Federal Chancellor Angela Merkel.
«One of the conditions of the EBRD loan is the program of corporate restructuring of Naftogaz, including the Supervisory Board, which must consist of qualified independent Directors, introduction of internal audit functions, control over the observance of ethics and law, anticorruption and risk management, as well as harmonization of the structure of ownership and management in line with best international practice», — said the EBRD.
As reported, the decision to grant the loan was made at a meeting of the EBRD Board of Directors on 30 September of the current year. One of the conditions for the provision of funds was the adoption of the plan for the reform of corporate governance of the NJSC «Naftogaz of Ukraine», involving among other things the creation wide of the Supervisory Board of Directors, which will include representatives of governments and international organizations, allocating loans to Ukraine.
Ukraine expects to receive the money in November.
The EBRD and Ukraine have agreed on a reform of «Naftogaz» and signed a loan agreement for $ 300 million. for the purchase of gas 23.10.2015