Kyiv City State Administration has paid off UAH 150 million on the last tranche of a loan worth a total of UAH 450 million issued by Kyiv-based Bank Khreschatyk and has now completely paid it off, a press release from the administration reads.

"On February 17, 2014 Kyiv ahead of time repaid a credit to Khreschatyk bank," the report quotes the deputy head of Kyiv City State Administration, Ruslan Kramarenko, as saying.

As reported, Bank Khreschatyk in 2009 provided Kyiv with loans of UAH 150 million and UAH 300 million to make payments to PJSC Kyivenergo. In 2012, Kyiv agreed with Bank Khreschatyk to restructure these loans. The borrower had to repay a credit in two portions: UAH 300 million in September 2013, and UAH 150 million in March 2014.

The administration paid off the first tranche of the credit in January 2013, Kramarenko reported.