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Ukrainian regions to favour from EUR400 mn loan extended by EIB for housing and communal companies development
05.02.2016 09:17 "Agro Perspectiva" (Kyiv) —
As of this week, the Ukrainian Parliament has ratified an Agreement between Ukraine and the European Investment Bank (EIB) to receive EUR400 million for the modernization of housing and communal services in the Ukrainian regions, Government Portal reports.
As to the report, the is to be used for regional projects to restore urban infrastructure, improve energy efficiency of municipal enterprises, raise the quality of services in the Ukrainian medium and large cities.
«The implementation of the Agreement will allow to improve energy efficiency and reduce local budget expenditures on heating of schools, kindergartens, hospitals, to replace street lighting in the cities, to pay due attention to environmental issues, recycling of household waste, to reconstruct the water main, upgrade the heating system and the like. These measures that will affect the life of each Ukrainian citizen will make our homes warmer, streets safer, and water quality better,» the Ukrainian Vice Prime Minister/Minister of Regional Development, Construction, Housing and Utilities Ghennadiy Zubko said.
It is to be admitted, the investment program with the EIB provides unprecedented terms for attracting «cheap and long money». The maturity period on lighting and the treatment of household waste projects is 15 years, for the modernization of heat supply - up to 22 years, for modernization of water supply projects - up to 30 years. Moreover, a grace period will be up to 8 years.
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