OREANDA-NEWS. Representatives of the World Bank met with Fuel and Energy minister Mr. Luchnykov to discuss the possibility of a loan to finance the country's electricity grid overhaul, press-service of a financial services provider Millennium Capital reported. 

As was recently announced, USD 4 bln low voltage grid reconstruction program is to be partly financed by loans, and it emerged that the World Bank might provide up to USD 1bln of funds to the project. It looks as a very positive development, as the Fuel and Energy ministry announced it is considering NAK ECU's (National Electricity Company) guarantees for loans contracted by electricity distributors under this program.