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EBRD to assure a loan for Odessa sea port’s grain terminal construction
29.07.2014 18:04 "Agro Perspectiva" (Kyiv) —
As of July 29, a tripartite loan agreement with the European Bank for Reconstruction and Development was signed, with the loan to be used for the construction of a grain terminal in the Odessa port, Government Portal reports referring to the Ukrainian First Deputy Minister of Infrastructure Oleksandr Malin.
«The significance of today’s event is not only in the allocation of sufficient financial resources to a private company, but also in a strong positive signal to the Ukrainian business from our European colleagues. One of the participants of this project is not a state, not a municipality and not a state enterprise, but a private company which bears itsekf all credit risk of the project. The Ukrainian Ministry of Infrastructure understands well that the role of the state is to be targeted not at the production management, but at the creation of the environment for investment, and so the private stevedores may have all support from our side in this project,» Olexander Malin said.
It is to be admitted, this agreement stipulates the allocation of US$60 million for the construction and development of the grain terminal with capacity of 4.5 million MT per year in the Odessa sea port. Also, the First Deputy Minister of Infrastructure pointed out one more positive feature — that is, during the period of the project implementation, besides port capacities being charged and transportation volumes growth, the construction materials are to be bought at the domestic market with numerous construction companies’ work teams to be involved, resulting in local budgets’ revenues growth — what is extremely important under today’s Ukrainian domestic economic and social situation.
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