Naftogaz hopes to receive World Bank guaranteed $500 mln loan by late Nov

14:23, 20.10.2016 1 min read

National joint-stock company Naftogaz Ukrainy hopes to receive a World Bank guaranteed $500 million loan by late November, Naftogaz Commercial Director Yuriy Vitrenko told reporters in Kyiv on Thursday.

"We expect [the loan] before late November. According to our financial plan, if we receive the funds we should have no problems with purchase of the required volumes of gas," he said.

Vitrenko added that risks with financial provision could appear due to the decisions to permit household consumers to pay for gas in installments.

Vitrenko said that Citibank and Deutsche Bank will provide the loan.