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Ukrainian Energy ministry to raise loans from European banks

      RBC, 28.07.2006, Kiev 13:35:23.Ukrainian Fuel and Energy Minister Ivan Plachkov has discussed Ukrainian fuel and energy projects with representatives of the European Commission, the European Reconstruction and Development Bank and the European Investment Bank, RBC was told by the Ministry's press service. The parties discussed improving oil and gas metering on the Ukrainian borders. The project requires an investment of EUR20m. Loan funds for installation of gas meters and high-performance boilers for municipal heating may exceed EUR300m. The parties also considered the possibility of raising a loan of EUR30-50m for modernization of compressor plants.

      The Minister reported that the Ukrainian government approved the action plan for 2006-2010 of the country's Energy Strategy to 2030. An analysis of sources of funding for the energy projects will be completed in two weeks. After that the enterprises will be able to begin raising loans. Foreign banks expressed readiness to participate in financing Ukraine's energy projects.

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