The Finance Ministry of Ukraine in October has approved the restructuring of a Kharkiv City Council credit worth a total of Hr 350 million, which the city attracted to prepare for holding the finals of Euro 2012 in Ukraine.
According to the ministry’s report, the credit is being restructured at 15% per annum within a year.
As reported, Kharkiv in November 2010 signed an agreement with the
state-owned Ukreximbank to attract a Hr 350 million credit at 14.8% per
annum to buy buses and trolleybuses from Lviv bus plant as part of its
preparation for Euro 2012.
Kharkiv extended this credit several times so as not to delay
preparations for the championship. In particular, according to the
findings of State Procurements Bulletin, the bank approved the extension
for Kharkiv of the terms to use tranches of the credit in November 2011
(worth of Hr 35 million), as well as in April and June this year (Hr 6
million and Hr 16 million respectively).
