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West ready to fund Ukrainian GTS

The European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) are ready to develop cooperation with Ukraine in the part of giving the trade funding for the purchase of natural gas by the company Naftogaz of Ukraine and modernization of the Ukrainian gas transportation system.

Relevant agreements were reached within the frames of the Washington agreements of the Ukrainian delegation headed by Finance Minister Oleksandr Shlapak and NBU Governor Valeria Hontareva with leaders of the IMF, World Bank, EBRD and IFC, the Finance Ministry press service informed.

“Negotiations with the EBRD and the IMF were extremely effective. The management of both institutes expressed readiness to develop cooperation in the sphere of allocation of trade funding for the purchase of natural gas by NJSC Naftogaz of Ukraine and modernization of gas transportation capacities,” a statement reads.

The press service confirms readiness of the EBRD and the IMF to participate in preparation for privatization and in privatization of state enterprises of Ukraine and banks, to carry out recapitalization of banks and to provide funding for renewal of infrastructure in the country's east.

“The IFC also proposed cooperation on preparation for the sowing campaign and raising of energy efficiency and modernization of equipment for natural gas extraction. A separate direction of cooperation was funding of projects of Ukrainian town councils,” the agency added.

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