KYIV, Oct 4 - The delay in the formation of an independent supervisory board at Naftogaz Ukrainy might disrupt the planned continuation of the company's lending by the European Bank for Reconstruction and Development (EBRD), EBRD Managing Director for Eastern Europe and the Caucasus Francis Malige said.

"This is an urgent, very urgent problem, because Naftogaz needs an independent supervisory board. It is absolutely impossible that the company of such a size operates without a supervisory board," he told journalists on the sidelines of the Ukraine Silk Road Trade Finance Executive Forum on trade financing organized by the EBRD and Ukreximbank in Kyiv.