Ukraine will have a loan for the modernization of European transmission system.

The European Bank for Reconstruction and Development, European Investment Bank and the World Bank will provide Ukraine a loan of two and a half billion euros for the modernization of the transmission system. It was expected that a preliminary agreement on this will be achieved on 23 March at the investment conference in Brussels, writes the newspaper Kommersant-Ukraine. "
According to the publication, the rate of the loan will be LIBOR plus one percent. LIBOR - is interbank rate for loans on the London Stock Exchange, which are commonly used to determine the cost of large loans.
The bulk of funds, which Ukraine will receive from international organizations, will go for reconstruction of compressor stations. This work will take at least seven years.
To obtain a loan Ukraine was forced to make some concessions to the European Commission. In particular, the official Kiev agreed to separate "Ukrtransgaz (gazostransportnoy system operator) of" Naftogaz Ukraine "(company engaged in producing, transporting and processing of oil and gas). In addition, officials have agreed on the opening of the gas transportation system to third-party companies that want to pump gas and use of underground storage. Kiev also pledged to develop a plan to reform the gas sector in Ukraine until 2011.
The requirements of the European Commission have been the subject of discussion between European and Ukrainian negotiators, the EU had to make some concessions. Initially, in Europe, wanted to guarantee Ukraine privatization "Ukrtransgaz or sale of shares of the company.
Recall that Russia has repeatedly said that he wished to take part in the privatization of the transmission system of Ukraine, where local authorities decide to sell shares in Ukrtransgaz. In particular, in January of that said Prime Minister Vladimir Putin of Russia. In Kiev, the local gas transportation systems valued at 25 billion dollars.
Previously, it was reported that Ukraine could get from Brussels 2.5 billion euros for the reform of the transmission system on a pro bono basis.