Ukrainian parliament ratifies loan deal with EBRD

09:05, 06 June 2013
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The Ukrainian parliament ratified a deal Wednesday in which the European Bank for Reconstruction and Development (EBRD) will help finance construction of a metro system in eastern Ukraine, according to Xinhua.

Under the agreement, the EBRD and the European Investment Bank will jointly provide a 152 million euro (198 million U.S. dollar) loan for construction of the line in Dnepropetrovsk city.

The total cost of the project, which is expected to be completed in 2016, is 479 million dollars.

The EBRD approved the loan in July 2012 for 11 years, with an annual interest rate of 1.5 percent.

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