KIEV , Nov. 30 – Ukraine 's Cabinet of Ministers at a meeting on Wednesday provided guarantees to the International Bank for Reconstruction and Development (EBRD), part of the World Bank group, for raising $500 million by national joint-stock company Naftogaz Ukrayiny to buy natural gas.

"The adoption of the project would help to expand the stabilization energy fund and provide [Naftogaz] with funds for autumn and winter period of 2016/17," First Deputy Prime Minister Stepan Kubiv said.