17:38 26.03.2015

Cabinet approves revised Bortnychi aeration station project, Japan may issue loan in May

2 min read
Cabinet approves revised Bortnychi aeration station project, Japan may issue loan in May

The Ukrainian government has approved the revised project for the reconstruction of Bortnychi aeration station in Kyiv and its main technical and economic indicators, the adaptation of which to the lending conditions of the Official Development Assistance program according to the STEP (Special Terms for Economic Partnership) was one of the main conditions of the Japanese government issuing a loan for the project's implementation.

Kyiv City State Administration said the corresponding draft order on the approval of the revised project was approved by the Cabinet at a meeting on March 25.

According to the signed protocol, credit funds worth 108 billion Japanese yen (in April 2014 it was planned to receive 112 billion Japanese yen, or about $1.1 billion) will be issued to Ukraine for a period of 40 years (with a grace period of ten years), at 0.1% per annum.

According to the administration, the protocol was signed by the Finance Ministry, the Ministry of Regional Development, Construction, Housing and Utilities Services, the Ministry of Economic Development and Trade, PJSC Kyivvodokanal (Kyiv), and Japan International Cooperation Agency (JICA).

The decision will allow funds to be attracted from the Japanese government for the implementation of the major part of the project to reconstruct the Bortnychi aeration station in May 2015.

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