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Hryhoriy Nemyria
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Government seeks World Bank Loan to finance reconstruction of hydroelectric power stations
06 July 2009
Published in Kyiv Post
The Ukrainian government’s committee on European integration and international cooperation has approved a draft Cabinet of Ministers directive, approving plans to seek a loan from the World bank to finance reconstruction of hydroelectric power stations.
The press service of Deputy Prime Minister Hryhorii Nemyria, who heads the committee, announced this in a statement.
The Ukrainian government’s committee on European integration and international cooperation has approved a draft Cabinet of Ministers directive, approving plans to seek a loan from the World bank to finance reconstruction of hydroelectric power stations.
The press service of Deputy Prime Minister Hryhorii Nemyria, who heads the committee, announced this in a statement.
The government committee also approved a draft
presidential decree entitled "On a Delegation to
Talks with the International Bank for
Reconstruction and Development on Conclusion of an
Agreement on a Loan (for additional financing of
the project for rehabilitation of hydroelectric
power stations) between Ukraine and the
International Bank for Reconstruction and
Development" and a draft of the relevant Cabinet of
Ministers.
The committee will now send the documents to the Cabinet of Ministers for approval, after which the draft presidential decree will be sent to the President of Ukraine for signing.
As Ukrainian News earlier reported, the Ukrhidroenerho power generating company's Board Chairman Semen Potashnyk has expressed confidence that agreement will be reached with the World Bank on provision of a loan of about USD 60 million to the company for financing the second stage of reconstruction of the hydroelectric power stations.
According to Potashnyk, the second phase of the reconstruction of Ukrhidroenerho's hydroelectric power stations will cost a total of about $500 million.
The committee will now send the documents to the Cabinet of Ministers for approval, after which the draft presidential decree will be sent to the President of Ukraine for signing.
As Ukrainian News earlier reported, the Ukrhidroenerho power generating company's Board Chairman Semen Potashnyk has expressed confidence that agreement will be reached with the World Bank on provision of a loan of about USD 60 million to the company for financing the second stage of reconstruction of the hydroelectric power stations.
According to Potashnyk, the second phase of the reconstruction of Ukrhidroenerho's hydroelectric power stations will cost a total of about $500 million.