Issue of $500 mln for gas loading into underground storages to the Ukraine is under threat

​The issue of $500 mln to the Ukraine by the World Bank for gas loading is under threat due to the delay of the approval of the tax reform, the head of the World Bank for the issues of the Ukraine, Belarus and Moldavia, Ch. Fan, said.

Previously Naftogas planned to be issued a $500 mln loan for gas loading until the end of 2015. It considers an opportunity of spending these funds for the purchase of gas, including from Russia.

“Now we are working on the warranty of issue of $500 mln for Naftogas so as the Ukraine would have reliable supplies this winter. But I think these efforts are under threat now due to the continual delay of the consensus by the tax reform in the framework of budget planning for 2016”, a representative of the World Bank said.

“The macroeconomic stability is important for the Ukraine’s survival. It is extremely important for the Government of the Ukraine, Presidential administration and Parliament to join so as to approve the tax reforms. It is important for the Government to reach an agreement by the balanced budget for 2016, without it the macroeconomic stability will be under threat”, Ch. Fan said.