The Cabinet of Ministers approved the attraction of a loan from the European Bank for Reconstruction and Development (EBRD) in the amount of up to EUR 300 million to the Naftogaz of Ukraine national joint-stock company for the purchase of natural gas.
Prime Minister Denys Shmyhal announced this on his Telegram channel, Ukrainian News Agency reports.
"A decision was agreed to attract by NJSC Naftogaz of Ukraine a loan from the European Bank for Reconstruction and Development in the amount of up to EUR 300 million. The credit facility is valid until March 25, 2024. The funds raised will be used to purchase natural gas in order to fully meet the needs Ukrainian consumers in energy resources," he wrote.
Also, according to Shmyhal, a draft order was approved providing for the extension of the interest rate of 12% per annum under a loan agreement dated June 5, 2009, concluded between Naftogaz and Oschadbank JSC.
Shmyhal noted that this decision will reduce the financial burden on Naftogaz when paying interest on this agreement in the amount of more than UAH 45.4 million.
As Ukrainian News Agency earlier reported, Naftogaz Group ended 2021 with a net profit of UAH 12.023 billion against a loss of UAH 19.002 billion in 2020, increasing sales revenue by 36.5% or by UAH 58.15 billion to UAH 217.384 billion.
NJSC Naftogaz of Ukraine is the leading enterprise of the country's fuel and energy complex, which is engaged in exploration and development of deposits, drilling, storage of oil and gas, transportation of oil, as well as gas supply to consumers.
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