KYIV, July 31 – The European Bank for Reconstruction and Development (EBRD) will provide a EUR 51.85 million loan to Ukrgazvydobuvannia (UGV) for maintaining gas production in Ukraine and boosting energy efficiency.

The EBRD signed the loan agreement with the Naftogaz Group and the Finance Ministry of Ukraine, Naftogaz Ukrayiny said in a press release.

The loan is provided in two tranches – EUR 36.4 million and EUR 15.45 million. The repayment term of the first tranche is 9 years, the second – 15 years. The effective interest rate is about 2.5% per annum (given the current situation on the international interbank market).