China Development Bank may provide USD 3.7bn loan to Ukraine.

By bne IntelliNews July 17, 2012
China Development Bank (CDB) may provide USD 3.7bn loan to Ukraine for replacement of natural gas with Ukrainian coal, the Ministry of Energy and Coal Industry has announced. In particular the funds will be used to converting domestic thermal energy sector facilities to feeding with coal-water fuel, and also for construction of plants for gasification of fossil coal and brown lignite. Moreover, Lysychansk Coal (Luhansk region) has plans to raise a sovereign borrowing of UAH 680mn (USD 85mn) from China Development Bank. Ukraine and China in 2011 arranged technical retooling, upgrading and preparation of mining operations at Ukraine's state-owned coalmines.

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