According to the law, as per the proposal of the European Bank for Reconstruction and Development the sovereign loan of Ukraine will be replaced with institutional loan of “Ukrhydroenergo”.
The Verkhovna Rada of Ukraine has passed the law on restructuring the loan of the European Bank for Reconstruction and Development amounting to EUR 200 mln, allocated for rehabilitation of hydroelectric power stations in 2012 , with extension for 5 years of maturities of the 1st and 2nd repayment (till 2021 and 2031 respectively), UBR reports.
285 people’s deputies have voted for the corresponding decision, while 226 are minimum required.
According to the law, the sovereign loan of Ukraine will be replaced with the institutional loan of “Ukrhydroenergo” on security of the Cabinet of Ministers with alteration of lending terms.
“This is primarily profitable for the budget, as the loan will be repaid from the funds of “Ukrhydroenergo””, - noted the Minister of Energy and Coal Industry Vladimir Demchyshyn, presenting the draft law to the parliament.
Thus, the disbursement of funds will be extended till 2021, and the second payment of commission under loan will not be required.
