KIEV, Sept. 5 - The European Bank for Reconstruction and Development and the International Finance Corporation have arranged a financing package worth $190 million to support Ukrainian gasoline station operator Galnaftogaz.

The facility will finance GNG's expansion in central and northern Ukraine and help restructure its balance sheet, the EBRD said.

The IFC and the EBRD, which already holds a stake in GNG, will provide two $65 million corporate loans each, with sub-participations by ING Bank and the Dutch development bank Financierings-Maatschappij voor Ontwikkelingslanden (FMO) of $30 million each. The Black Sea Trade and Development Bank will provide a parallel corporate loan of $30 million. In addition, the EBRD will invest $30 million of equity in GNG equity. The financing package will help acquire or construct up to 75 filling stations, thus bringing GNG's network of filling stations to over 380 across the country.