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Ukraine’s GNG Gets $190M Aid

Galnaftogaz has secured financing aid worth $190 million, which was arranged by the European Bank for Reconstruction and Development and the International Finance Corp.

Galnaftogaz (GNG) has secured financing aid worth $190 million, which was arranged by the European Bankfor Reconstruction and Development (EBRD) and the International Finance Corp. (IFC). The facility will fund the Ukrainian petrol station operator’s expansion in central and northern Ukraine and help restructure its balance sheet.

The IFC and EBRD will offer two $65 million corporate loans each. ING Bank and Dutch development bank Financierings-Maatschappij voor Ontwikkelingslanden will also give $30 million each. The EBRD will invest $30 million of equity in GNG equity.

Click here for the release from EBRD.

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