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Ukraine : WORLD BANK to offer $1.48 billion in financing for THREE PROJECTS

May 27, 2014

A deal has been inked by the World Bank's board of executive directors in Kyiv.

The agreement was ratified to offer $1.48 billion in financing for three projects.

As per the report, The package of three new projects is part of the total volume of aid to Ukraine announced by World Bank Group in March this year. This aid worth a total of $3.5 billion is expected to be delivered to Ukraine until the end of 2014 .

It was further reported, Also, municipal heat and power companies in ten cities will receive $382 million as part of a project to raise energy efficiency .

The Ukrainian government added, The first loan of $750 million will be spent on the budget support .

The left over $350 million would be offered to ten water supply enterprises and one waste disposal company.

The consumption of Ukraine is to come down in 2014 if Kiev meets IMF requirements World Bank

The Parliament-appointed Vice-Premier Volodymyr Groisman, Economic Development Minister Pavlo Sheremeta and Finance Minister Oleksandr Shlapak has inked the document on Ukraine s behalf. World Bank Country Director for Ukraine, Belarus and Moldova Fan Qimiao has ratified the document on the World Bank s behalf.

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Source: TendersInfo (India)

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