The European Bank for Reconstruction and Development (EBRD) is mulling a project to provide a debt funding of 51.9 million euro to PJSC Ukrgazvydobuvannia to finance the procurement of workover rigs and a package of energy efficiency investments.
According to a report on the bank’s website, the Board of Directors will discuss the project on December 12, 2018.
According to the document, the loan will benefit from a sovereign guarantee by Ukraine.
Ukrgazvydobuvannia, fully owned by Naftogaz Ukrainy, is the country’s largest gas producer, which provides about 75 percent of the total gas production in the country.
As reported, the EBRD recently defined operational and strategic priorities in Ukraine for the next five years: privatization and improved governance in the public sector, energy security and energy efficiency.
The EBRD is the largest international financial investor in Ukraine. To date, the bank has made a cumulative commitment of almost 12.1 billion euro across some 400 projects since the start of its operations in the country in 1993.
