EU Bank Pledges $308M Ukrainian Gas Transit Repair Loan

Law360, New York (February 29, 2012, 8:32 PM EST) -- The European Bank for Reconstruction and Development is working with the European Investment Bank to provide a $308 million loan to fund emergency repairs to the Ukrainian gas transit system, the EBRD said Wednesday.

There is an urgent need for repairs to the main Urengoy-Pomary-Uzhgorod export pipeline for safe and uninterrupted gas transit to Europe, the EBRD said.

EBRD Director for Ukraine Andre Kuusvek said the bank is committed to assisting Ukraine with the modernization of its gas transit system under the terms of a 2009...
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