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Ukraine, EIB sign agreement to finance modernization of Urengoi-Pomary-Uzhgorod gas pipeline

    19 January 2021 Tuesday

    Ukraine and the European Investment Bank (EIB) have signed an agreement to finance the modernization of the Urengoi-Pomary-Uzhgorod gas pipeline for EUR 150 million.The agreement on the implementation of a project for the reconstruction, overhaul and re-equipment of the Urengoi-Pomary-Uzhgorod gas pipeline was signed by Ukrainian Prime Minister Arseniy Yatseniuk on behalf of Ukraine and by EIB President Werner Hoyer on behalf of the EU

    The EIB in the second half of October approved the provision of a EUR 150 million financing to reconstruct the Urengoi-Pomary-Uzhgorod gas pipeline, which is used to supply Russian gas to Europe by the Ukrainian gas transport system operator Ukrtransgaz.In addition, the EBRD could provide up to $200 million to reconstruct the Urengoi-Pomary-Uzhgorod gas pipeline. The EBRD board is to approve the project on December 10, 2014.

    An International Monetary Fund (IMF) is to return to Ukraine after January 12, 2015.Ukrainian bankers were informed about this at a meeting at the National Bank of Ukraine (NBU) on December 1.

    "The IMF mission has completed work and will return to Ukraine after January 12. Hopes to get IMF tranches by the end of the year haven't come true because a new Ukrainian government hasn't been formed yet," the source in the financial sector told Interfax-Ukraine.The NBU expects that Ukraine's gold and forex reserves will continue shrinking due to agreements on prepayment for Russian natural gas, the source said.According to the source, NBU Governor Valeriya Gontareva is preparing to report in parliament in connection with a draft resolution, registered in the parliament, which calls on Ukrainian President Petro Poroshenko to dismiss her.

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