Ukraine and the EIB will sign the agreement on upgrading the Urengoy-Pomary-Uzhgorod pipeline
The Prime Minister of Ukraine Yatsenyuk and the President of the European Investment Bank on December 1st will sign the agreement on financing the modernization of the Urengoy-Pomary-Uzhgorod gas pipeline.
This was announced by the press service of the Cabinet of Ministers.
October 22, by its order №1143-p, the Cabinet of Ministers agreed attracting of up to 150 million euros in the EIB and up to 200 million U.S. dollars from the European Bank for Reconstruction and Development to modernize the Urengoy-Pomary-Uzhgorod pipeline.
Under the agreement, the state is to give the funds to the GTS operator "Ukrtransgaz" for the implementation of the project in the form of a sub-loan at 2% per annum on the outstanding amount.
As reported, the EIB in the second half of October approved a loan of 150 million euros for the reconstruction of the Urengoy-Pomary-Uzhgorod pipeline by the Ukrainian gas transport system operator "Ukrtransgaz".
In addition, the European Bank for Reconstruction and Development announced the possibility of providing up to 200 million dollars of government loan to Ukraine for the reconstruction of this pipeline. Its board of directors plans to consider the project on December 10.
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