According to the Bank's website, this project provides financing in the form of a 5 year senior fixed rate coupon unsecured Eurobond issued alongside USD 335 million 3 year Eurobond by Kondor Finance plc and rated by Fitch in favour of NJSC "Naftogaz of Ukraine".
According to the Bank, use of the Bond proceeds will fund the gas purchase.
Kondor Finance PLC is a public liability company incorporated in the UK specifically for the purpose of NAK's Eurobond issuance.
Naftogaz is a 100% state-owned company with the cabinet of ministers of Ukraine acting as nominated shareholders on behalf of the state. Naftogaz is the holding company of a vertically integrated group of entities with activities including oil and natural gas production, transportation and storage, refining and supply.
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.