You're reading: Government forbids Crimea to issue domestic loan bonds

The Ukrainian cabinet has forbidden Crimea to issue domestic loan bonds worth UAH 400 million.

Crimean Prime Minister Vasyl Dzharty told the press in Simferopol on Wednesday that the decision was made due to a requirement of the International Monetary Fund (IMF).

"This is a decision of the IMF, as the funds would be a burden for the deficit of Ukraine’s budget," he said.

Dzharty said that Crimea could receive funds for the renewal and stabilization of Krymtrolleybus Company’s work. Earlier, funds received from the bond issue were planned to be spent on this purpose.

He said that a decision had been made to allocate some funds from the stabilization fund of the Ukrainian budget and use them to buy trolleybuses this year by Crimea.

"A tender has been announced. I think that in late August, the first trolleybuses will be bought," he said.

Dzharty said that UAH 140 million would be allocated from the stabilization fund this year to Crimea.

He said that the sum would allow the purchase not only of trolleybuses, but also the organization of their assembly in Crimea.

In addition, he said that next year Crimea would also receive funds for Krymtrolleybus.