EIB could provide EBRD's guarantees worth EUR 460 mln to credit Ukraine under five projects

12:46, 22.09.2015 1 min read

The European Investment Bank (EIB) is considering providing guarantees worth EUR 460 million ($520 million) to the International Bank for Reconstruction and Development (EBRD) to credit Ukraine under five projects.

"The guarantee will cover five IBRD loans supporting projects in the road transport, power and energy efficiency sectors against the risk of default by Ukraine," the EIB said in a report on its website.

The bank said that the guarantee will release IBRD exposure to Ukraine, enabling the IBRD to support gas purchases by Naftogaz.

The total cost of the five projects is EUR 1.53 billion ($1.73 billion).