Thursday, August 11, 2022

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EBRD new loan to ERU Trading supports competition and security of supply in Ukraine

With a new loan of 10 million euros to ERU Trading, the largest private importer of natural gas from Hungary, Poland and the Slovak Republic to Ukraine, the European Bank for Reconstruction and Development (EBRD) is supporting competition and security of supply in the energy sector in Ukraine.

“By supporting a privately owned gas trader, we are supporting further liberalisation of the energy market, greater competition and security of supply in Ukraine,” commented Matteo Patrone, EBRD Managing Director, Eastern Europe and the Caucasus. “Private gas trade also promotes greater utilisation and integration of the country’s transport and storage infrastructure with the EU gas market.”

“Today’s signing of the agreement with the EBRD means an acknowledgement that ERU Trading follows and complies with high standards and policies of doing business,” added Olga Mamedova, Head of the Legal Department of ERU Trading. “This credit facility will help our company to contribute to ensure the reliability of supply to Ukrainian customers during the challenging winter season of 2021-22.”

As part of the agreement, ERU Trading has committed to continuing to provide career opportunities for women. The company plans to hold career guidance events and share best practices with other companies in the sector. It will also sign the Women’s Empowerment Principles developed by the United Nations to advance gender equality in the workplace, marketplace and community.

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