REUTERS
The Cabinet's resolution will help to raise medium-term financial resources for Ukraine's real sector.
Ukraine's Cabinet of Ministers has endorsed a draft letter from the Ukrainian government to the European Investment Bank (EIB) confirming that the proposal of the US$250 million project "Development of Agrarian Infrastructure and Generation of Energy from Biomass" falls under the Framework Agreement between Ukraine and the EIB.
Corresponding Cabinet resolution No. 603 of August 14 was published on the government portal.
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"The draft letter by the Government of Ukraine to the European Investment Bank confirming that the proposed financing in the amount of US$250 million by the said bank under the project 'Development of Agrarian Infrastructure and Generation of Energy from Biomass' falls under the Framework Agreement between Ukraine and the EIB, concluded in Luxembourg on June 14, 2005, shall be approved," the resolution says.
The explanatory note to the document states that the adopted resolution will help to raise medium-term financial resources for the real sector of the economy for the development of the private sector of the economy, improve energy efficiency of production, strengthen the position of Ukrainian enterprises in international trade, increase tax revenues of enterprises in the national budget of Ukraine, as well as improve the business climate and create conditions for enhancing investment activities.