Oschadbank to issue UAH 5 bln credit to Odesa Port-Side Plant to buy gas from Naftogaz, says cabinet resolution

13:48, 04.12.2014 1 min read

The Cabinet of Ministers of Ukraine has instructed that Energy and Coal Industry Ministry, Finance Ministry, the State Property Fund with the participation of the National Bank of Ukraine and Oschadbank take measures to pay UAH 5 billion for gas to national joint-stock company Naftogaz Ukrainy by public joint-stock company Odesa Port-Side Plant.

"Including with the help of attracting a loan of UAH 5 billion for the period of one year with the possibility of prolonging it under an agreement with Oschadbank," reads cabinet resolution No. 1186 of December 3, 2014 posted on the government's website on Thursday.

According to the resolution, the company will attract the loan from Oschadbank without holding a tender.

In addition, the cabinet ordered drawing up the amendments to the financial plan of Odesa Port-Side Plant for 2014, which was approved by cabinet resolution No. 1183-r of November 19, 2014 and posted on the government's website on December 3.