What opportunities a revolving loan from the EBRD offers
The European Bank for Development and Reconstruction started cooperation with the energy company “ERU Trading”. The financial institution allocates a revolving loan of 10 million euros to the company. The loan is designed for 2 years and will be used to replenish the company’s working capital. The money given by the European bank will enable the Ukrainian supplier of the energy resources to expand its positions at the domestic market and increase the electricity and gas sales.
The partnership of ERU Trading with the EBRD also implies fulfillment of several clauses, one of them being related to gender equality within the company. The Ukrainian party has undertaken a commitment to expand opportunities for women and decrease restrictions for them in terms of career promotion. For this purpose the company will implement special programs, including exchange of experience with other enterprises, which were able to successfully build a model of career growth for their employees, regardless of their gender identity.
ERU Trading said that the conclusion of the agreement with the European partner first of all proves that the company strictly follows the principles of the business organization and also conforms to the high EU standards in this segment. The allocated credit funds will enable the company to provide high-quality services to its customers and ensure reliable gas supplies.
Representatives of the bank noted that they are happy to support private energy suppliers, as they believe that the increase in their number on the Ukrainian market is a sign of liberalization and transparency of the energy sector. Besides there is a healthy competition in the market which stimulates suppliers to become better and fight for each client. Another positive factor of private companies’ activity in Ukraine is to improve the infrastructure for transportation and storage of gas. This, in turn, ensures better integration with the EU market.
ERU Trading has been operating since 2015, and during this time it has become the largest private supplier in the country. Its first deliveries in Ukraine were carried out jointly with the French company ENGIE. At that time the raw material was transported from Slovakia. Now ERU Trading has a developed network of partners around the world, who are ready to offer their services at favorable prices.
In 2019, the company signed a contract to transport liquefied gas from the U.S., which first arrived at a terminal in Poland, and then it went to Ukrainian storage facilities.
ERU has an insurance policy that protects in case of political risks. The document is issued by the US state agency OPIC, and for 20 years provides the supplier with compensation during transportation, storage and sale of the resource on the territory of Ukraine.
