On May 26, in the World Bank Office in Ukraine the Government of Ukraine and the World Bank signed the Agreement on providing loans to Ukraine worth USD 1.48 billion.
The deal for the WB project Increased Efficiency, Improved Livelihoods: Transforming District Heating in Ukraine was signed by the World Bank Country Director for Belarus, Moldova and Ukraine Quimiao Fan, from Ukraine by the Finance Ministry Olexandr Shlapak.
The sum of the provided loan makes up USD 382 million with co-financing by the International Bank for Reconstruction and Development worth USD 332 million, the Clean Technology Fund worth USD 50 million. These investments will be directed to replace outdated equipment in the centralized heating system with more advanced to comply with demands of today and will help Ukraine to minimize losses of energy resources in the nearest future.
Apart from that, the parties signed agreements for the projects Financial Rehabilitation Development Policy Loan 1 worth USD 750 million and Second Urban Infrastructure Project worth USD 350 million. The documents were signed by the World Bank Country Director for Belarus, Moldova and Ukraine Quimiao Fan, from Ukraine by Deputy Minister of Regional Development, Building and Housing and Communal Services Hryhorii Semchuk and Minister of Economic Development Pavlo Sheremeta.