KIEV, Aug. 22 – The Energy and Coal Industry said it expects in Q4 to sign a credit agreement with the European Bank for Reconstruction and Development and European Investment Bank on financing the construction of the Kaniv pump storage, Energy and Coal Industry Minister Eduard Stavytsky said.

"We expect that in September a declaration on opening a credit line will be signed and in the fourth quarter the credit agreement will be signed," he said.

The minister said that the shares of the EBRD and EIB in the financing of the project would be 70% and 30%. The funds will be raised thanks to the governmental program on financing large infrastructure facilities using government guarantees.