Monday, May 26, 2008

Ukraine to get USD 140 million from World Bank for municipal infrastructure development

Ukraine will receive from the World Bank USD 140 million for the development of cities' infrastructure, says WB department head Dmytro Kryshenko.

He noted that the finance would be provided for projects on reconstruction of water supply and sewage facilities, as well as solid house waste treatment. USD 60 million of the sum declared has already been spent on the efforts in Chernivtsi, Ivano-Frankivsk and Odesa.

The loans are provided for maximum 30 years, the average term for Ukraine being 17 years with five-year grace periods, when only interest is paid, without capital repayment, the department head said adding that interest rates are relatively not high.