Ukraine wants to borrow $7 billion from China for infrastructure projects

The Ukrainian government intends to conclude a framework loan agreement with China worth $7 billion to help fund a number of infrastructure projects, as announced by Viktor Dovgan, Deputy Minister of Infrastructure of Ukraine, during the presentation of an exhibition project for the China International Import Expo, UNIAN reports.

"The government intends to submit an official proposal to the Chinese Ministry of Commerce regarding the conclusion of a framework loan agreement for a number of projects, [valued at] approximately $ 7 billion, between China and Ukraine," Dovgan said.

In 2012, Naftogaz agreed on a $3.656 billion loan with the State Development Bank of China to finance projects to replace gas with coal. However, Ukraine did not use these funds, and in November 2017 the loan agreement was canceled.

  Ukraine, China, loan