Ukraine to repay USD 2bn loan to VTB bank in Q4/2010.

By bne IntelliNews August 11, 2010
Ukraine is planning to repay a loan of USD 2bn drawn from Russia's VTB Bank in Q4/2010, reads a memorandum signed between the Ukrainian authorities and the IMF. According to the document, in the fourth quarter Ukraine also plans to receive USD 0.5bn of credit means from the World Bank and USD 0.3bn from the European Union. Moreover, in Q3 Ukraine wants to float Eurobonds for USD 1.3mn, and also raise UAH 0.15bn of loan funds from the EU, and USD 0.3bn from the European Bank for Reconstruction and Development. Ukraine borrowed the money this June; then Russia's Ambassador to Ukraine Mikhail Zurabov told this to be a bridge credit for a period of up to six months at the interest rate of 6.7% per annum.

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