According to Bank documents, this project provides support to Naftogaz for its purchase of natural gas, to ensure its availability in Ukraine during the winter season.
The EBRD's proposed investment is up to US$ 100 million funded risk participation in a natural gas purchase revolving loan facility that will be arranged by Goldman Sachs and supported by the US Overseas Private Investment Corporation (OPIC). The facility is currently under negotiation and will be subject to approval by the parties.
Naftogaz is a 100% State-owned company with Cabinet of Ministers of Ukraine acting as nominated shareholders of behalf of the state. Naftogaz is the holding of a vertically integrated group of entities with activities including oil and natural gas production, transportation and storage, refining and supply.
Sergiy Konovets, Deputy Chairman of the Board
+380 (44) 586-32-83
B. Khmelnytskogo str, 6 Kyiv, 01001, Ukraine
ACCOUNTABILITY MECHANISM OF EBRD
The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at email@example.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.