Ukraine has funds to buy gas for 2016-2017 heating season

14:14, 29.01.2016 1 min read

Ukraine has enough funds to buy natural gas for the 2016-2017 heating season, Finance Minister of Ukraine Natalie Jaresko said in the parliament on Friday.

"First in the history of the country's independence we're ready financially for the next heating season," she said.

She welcomed the approval of bill No. 3388 by the parliament this week. Now the government is able to sign a program on the five year renewable guarantee for $500 million from the World Bank to buy gas.

"Jointly with the agreement worth $300 million earlier signed with the EBRD [the European Bank for Reconstruction and Development] and the agreement worth $200 million with the International Finance Corporation we have a chance of attracting funds in the amount of up to $1 billion from international financial organizations to buy natural gas from European suppliers," Jaresko said.

She said that thanks to the funds raised Ukraine is able to buy gas at the lowest prices and completely use the reverse supplies from Europe.