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EUobserver / EU arranges anti-gas crisis loan for Ukraine

EUOBSERVER / BRUSSELS - The European Commission has helped Ukraine to secure international loans to prevent a repetition of last winter's gas cut-off.

The European Bank for Reconstruction and Development, the European Investment Bank and the World Bank will together put forward $1.7 billion (€1.2 billion).

Ms Tymoshenko (l) and Mr Barroso - gas sector reforms could harm Ms Tymoshenko's political ambitions

Three hundred million dollars is to help Ukraine buy Russian gas to fill storage tanks for the coming winter. The rest is to pay for reforms to its distribution network over the next 18 months.

The deal is conditional on Ukraine increasing transparency in its state-owned gas distributor Naftogaz, reducing gas waste and bumping up household energy prices to market levels.

by Fran (fran at eurotrib dot com) on Mon Aug 3rd, 2009 at 01:36:12 PM EST
[ Parent ]
that money will never ever be disbursed.

In the long run, we're all dead. John Maynard Keynes
by Jerome a Paris (etg@eurotrib.com) on Mon Aug 3rd, 2009 at 03:50:35 PM EST
[ Parent ]
they'll be that blatant, huh ?? Jeez

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Mon Aug 3rd, 2009 at 04:08:50 PM EST
[ Parent ]
the loan is signed, and announced. it's just implementation that's a little bit trickier than expected... conditions need to be met, and they won't be. but that will never be discussed publicly... until the next gas crisis, where we'll blame Russia anyway.

In the long run, we're all dead. John Maynard Keynes
by Jerome a Paris (etg@eurotrib.com) on Mon Aug 3rd, 2009 at 04:38:11 PM EST
[ Parent ]
I called everyone to witness ((Saturday's Salon) what Yulia had promised to do.

Don't forget, she promised, you're all witnesses.

by afew (afew(a in a circle)eurotrib_dot_com) on Tue Aug 4th, 2009 at 03:50:23 AM EST
[ Parent ]

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