The Cabinet is to create energy stabilization fund worth $1 bln

Source : 112 Ukraine

The Cabinet decided to create an energy stabilization fund with assets worth $ 1 billion. The decree was published on the government portal.
18:21, 6 July 2015

“The Cabinet of Ministers of Ukraine passes a resolution to establish a reserve energy fund worth $ 1 billion in 2015. Approve the procedure for the formation and use of stabilization (reserve) fund energy in 2015, added that, "- according to the state. "Naftogaz Ukraine" will establish the energy stabilization, following the agreements concluded with external creditors. "Naftogaz" will use the money of the fund to purchase the imported natural gas, pay for transportation and storages.

As reported before, Ukrainian Parliament approved the changes to the national budget, one of which was the establishment of the energy stabilization fund. Government could take credit funds in the amount of $21 billion to institute this fund under the state guarantees. 

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