The Cabinet of Ministers has provided state guarantees to the Naftogaz of Ukraine national joint-stock company under the credit line of the European Bank for Reconstruction and Development (EBRD) in the amount of up to EUR 300 million for the procurement of gas.
This is evidenced by the resolution of the Cabinet of Ministers of July 7, No. 760, Ukrainian News Agency reports.
The Cabinet of Ministers set the amount of payment for the provision of a state guarantee at 0.5% per annum of the selected and outstanding loan amount.
The government also established that ensuring the fulfillment of obligations under the agreement on the repayment of debts to the state for the fulfillment of warranty obligations is not provided.
The Cabinet of Ministers authorized Finance Minister Serhii Marchenko to sign documents on the provision of state guarantees to ensure the fulfillment of the Naftogaz of Ukraine NJSC debt obligations under the loan agreement.
As Ukrainian News Agency earlier reported, Naftogaz attracted a credit line of EUR 300 million from the EBRD for the procurement of gas.
The 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 income by 36.5%, or UAH 58.15 billion, to UAH 217.384 billion.
Naftogaz of Ukraine is the leading company in Ukraine in terms of exploration and development of oil and gas deposits, drilling, transportation, and storage of crude oil and natural gas, and supply of natural gas to consumers.
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