Creditors of the Ukraine start to look for funds to load 5 bln cubic m of gas into underground storages

​The World Bank starts to look for $1 bln to help the Ukraine to load its gas storages for the winter.

Financing – mostly loans and guarantees – is to eliminate one of the main obstacles on the way to the realization of the gas agreement between Russia and the Ukraine.

The amount will allow Naftogas to buy about 5 bln cubic m of gas and that in its turn will allow Europe to accumulate the necessary 19 bln cubic m of gas.

The World Bank is preparing a warranty for $500 mln to the Ukraine and the European Investment Bank gives warranties for infrastructure projects to the Ukraine for up to $520 mln.

Previously the European Reconstruction and Development Bank has already announced of the issue of $300 mln to the Ukraine but the Board of the Bank is to decide whether to issue or not these funds on September 30th.