Naftogaz head hopes to agree dissent with EBRD on holding reformation plan by end of this week
Board Chairman of national joint-stock company Naftogaz Ukrainy Andriy Kobolev expects that the conflict with the European Bank for Reconstruction and Development (EBRD) over the plan to reform the corporate management of the company will be settled by the end of this week.
"Some decision on the issue should be made. Maybe, at this meeting everyone would convince consultants, EBRD and the World Bank to modify the plan, but I doubt this, but everything could happen. I feel like the solution could be found by the end of this week. I hope that everyone will be [engaged] in constructive dialog," he told reporters on Tuesday.
He said that the meeting could be chaired by the prime minister or finance minister.
"We hope that the decision could be made… and then I hope the plan and the agreement could be signed," he said.
Kobolev said that the approval of the plan is the condition of the credit agreement signed with the EBRD to raise $300 million.
"We were clearly told that without the agreement of the plan drawn up by consultants they would not sign the credit agreement with Ukraine. Knowing how it works I believe that the credit of the World Bank will be automatically put under this condition," he said.
Kobolev also said that the plan foresees a transition period when the efficiency of the management under new standards could be tested.
"We also share the point of view of EBRD consultants. This process is civilized and inevitable, and it should be passed sooner or later," he said.