Bloomberg News

Ukraine to Get $3 Billion Loan From China for Agriculture

July 02, 2012

Ukraine said it will get a $3 billion loan from China for agriculture projects, bolstering cooperation between the nations after they signed a currency-swap agreement last week.

The 15-year loan will carry an interest rate of 6 percent, Ukraine’s central bank, based in the capital, Kiev, said today in e-mailed statement. There will be a five-year grace period during which Ukraine will only pay interest, it said.

The two countries, which signed a three-year 15 billion- yuan ($2.4 billion) currency-swap accord on June 26, are still discussing which agricultural projects will be financed using the loan, according to the statement.

To contact the reporters on this story: Kateryna Choursina in Kiev at kchoursina@bloomberg.net; Daryna Krasnolutska in Kiev at dkrasnolutsk@bloomberg.net.

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net; James M. Gomez at jagomez@bloomberg.net


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