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Government seeks World Bank Loan to finance reconstruction of hydroelectric power stations
July 03 at 20:46 | Ukrainian NewsThe press service of Deputy Prime Minister Hryhorii Nemyria, who heads the committee, announced this in a statement.
The government committee also approved a draft presidential decree entitled "On a Delegation to Talks with the International Bank for Reconstruction and Development on Conclusion of an Agreement on a Loan (for additional financing of the project for rehabilitation of hydroelectric power stations) between Ukraine and the International Bank for Reconstruction and Development" and a draft of the relevant Cabinet of Ministers.
The committee will now send the documents to the Cabinet of Ministers for approval, after which the draft presidential decree will be sent to the President of Ukraine for signing.
As Ukrainian News earlier reported, the Ukrhidroenerho power generating company's Board Chairman Semen Potashnyk has expressed confidence that agreement will be reached with the World Bank on provision of a loan of about USD 60 million to the company for financing the second stage of reconstruction of the hydroelectric power stations.
According to Potashnyk, the second phase of the reconstruction of Ukrhidroenerho's hydroelectric power stations will cost a total of about $500 million.