Parliament ratifies agreement with Japan on provision of $901 mln to modernize Bortnychi aeration station

14:12, 02.09.2015 1 min read

The Ukrainian Parliament has passed at second reading draft law No. 0052 on ratifying the agreement (in the form of exchange of notes) between the Ukrainian and Japanese governments on the provision of a loan to realize the project to modernize the Bortnychi aeration station as part of the implementation of the project to reconstruct sewage treatment facilities and the construction of a production line for sewage-sludge treatment and utilization of the Bortnychi aeration station.

A total of 265 lawmakers supported the law.

The law ratified the agreement signed on June 6, 2015 in Kyiv between Ukraine and Japan on the provision of a loan of JPY 108.193 billion (around $901 million).

The agreement foresees that the crediting term is 40 years with a payment grace period of 10 years. The credit rate is 0.1%. A Japanese company will be the general contractor of the project and the volume of Japanese goods used during the realization of the project is to be at least 30% of the cost of the contract.