News
01.10.2013
China will credit Ukrainian agroindustrial complex at USD 3 billion - Prysiazhniuk
The Export-Import Bank of China will allocate a USD 3 billion credit to Ukraine for renewal of the irrigation system.
Agricultural Policy and Food Minister Mykola Prysiazhniuk told a briefing Tuesday, a Ukrinform correspondent reports.
We conduct negotiations with the Export-Import Bank of China and they actually entered the final stage. The Eximbank will credit the state in order to renew the irrigation system, USD 1.5 will be in the monetary form and USD 1.5 billion - as equipment, he said.
The Minister specified that the credit terms are rather attractive for Ukraine.
The credit cost is 6.5%, including all expenses and insurance, plus five years of the repayment holiday and repayment of the principal amount of the credit over 10 years. State guarantees are mandatory, Prysiazhniuk noted.
According to him, credit funds will be enough for renewal of the irrigation system on the acreage of 1.2-1.4 million ha.
