China has promised major loans to Ukraine as the country faces rising pressure from Russia over imported gas costs.
On Dec. 10, Ukraine’s government announced that its national gas company
Naftogaz Ukrainy had received a U.S. $3.65-billion credit line from
state-owned China Development Bank Corp. to help replace gas with coal.
The
15-year loans would be paid out starting in 2016, according to the
Interfax news agency, suggesting they will provide little immediate
relief from Ukraine’s current financial squeeze.
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