Photo from TSN.ua Ukrainian state-owned railway operator Ukrzaliznytsia (Ukrainian Railways) plans to borrow UAH 40 billion (US$1.31 billion at a reference rate of UAH 30.5 per U.S. dollar – this forex rate is applicable throughout the text) and repay UAH 39.2 billion ($1.29 billion) in 2019. As of the beginning of 2019, the company&#39;s balance on financial obligations will make up UAH 42 billion ($1.38 billion), while the balance is expected to be UAH 48.4 billion ($1.59 billion) by the end of the year, according to the explanatory note to Ukrzaliznytsia&#39;s draft consolidated financial plan for 2019. Read alsoUkraine to put first GE locomotives into operation in fall In total, UAH 39.2 billion ($1.29 billion) in loans is to be repaid in 2019. According to the document, UAH 40 billion includes long-term loans worth UAH 38.1 billion ($1.25 billion), of which: UAH 16.5 billion ($541 million) in credit funds from international financial institutions (IFIs) for the electrification of the Dolynska-Mykolaiv-Kolosivka railroad section; UAH 1.8 billion ($59 million) in IFIs loans for freight wagons; UAH 24 billion ($787 million) in borrowings as part of a credit line at JSB Ukrgasbank (capped at UAH 1.5 billion, or $49.2 million, to cover temporary liquidity gaps); UAH 10.65 billion ($349 million) in loan funds borrowed in the Ukrainian market, including those for the replenishment of working capital. Financial leasing worth UAH 1.9 billion, or $62.3 million, (15 main freight diesel locomotives manufactured by General Electric) is envisaged as well. Repayment of borrowings totaling UAH 39.2 billion is expected in 2019. In particular, UAH 38.3 billion ($1.3 billion) in long-term loans (including UAH 11.3 billion, or $370 million, in repayment of existing financial obligations under current loan agreements); UAH 24 billion ($786.9 million) in repayment of JSB Ukrgasbank&#39;s credit line (capped at UAH 1.5 billion, or $49.2 million); UAH 3 billion ($98.4 million) in loans raised in the Ukrainian market to maintain the company&#39;s liquidity; UAH 0.5 billion ($16.4 million) in an interest-free loan from the Ukrainian Infrastructure Fund (Fininpro); and UAH 0.44 billion ($14.4 million) in financial leasing. The document states that the company&#39;s credit policy for 2019 will include further successful cooperation with international financial organizations (the European Bank for Reconstruction and Development and the European Investment Bank) as part of the renewal of fixed assets and the improvement of infrastructure on preferential terms. The expansion of cooperation with other creditors from the international financial institutions is provided for as well.