World Economy

Ukraine Could Miss Out on China Loans

Ukraine Could Miss Out on China LoansUkraine Could Miss Out on China Loans

Ukraine could miss out on energy sector funding from China worth up to $3.65 billion because squabbles between ministries and the state-run energy firm Naftogaz have held up project proposals, according to interviews with officials, Reuters reported. Ukraine signed the loan agreement with the China Development Bank in 2012 and it must submit proposals for projects by June 2017 to receive funding. But with the deadline looming, Naftogaz and the relevant government departments have yet to sign off on any of the coal or gas projects that were due to be funded by the loan.


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