Ukraine seeks $200 mln from IFC for Gas
Ukraine expects to receive $200 million from the International Finance Corporation to help fund natural gas purchases ahead of winter, central bank chief Valeria Hontareva said on Wednesday.
"We are waiting for gas purchases for this winter, but the purchases will be funded by loans (taken by state energy firm) Naftogaz from international organisations," the bank's press service quoted Hontareva as saying.
"(Naftogaz) is receiving a credit line of $300 million from the EBRD (The European Bank for Reconstruction and Development). U.S., IFC will allocate another $200 million," she said.
IFC declined to comment.
Ukraine, which aims to store 18-19 billion cubic metres (bcm) of gas by mid-October, had collected 14.8 bcm of gas as of Sept. 7.
Prime Minister Arseny Yatseniuk last month said efforts to store gas for winter were running 1 bcm behind their pace last year due to a lack of funds.
EBRD said earlier this year that it was considering granting a $300 million trade finance loan to Naftogaz to buy gas on the European market.
The government has ordered Naftogaz to borrow $1 billion to create a fund the purchase, transport and storage of gas.
According to analysts' calculations, a $1 billion loan would allow Ukraine to buy around 4 bcm of gas.
Reporting by Pavel Polityuk
