The Cabinet of Ministers confirmed the state guarantee of the delay in the repayment of the Chinese loan of the State Food and Grain Corporation of Ukraine
20.12.2022 - 12:35
The Cabinet of Ministers confirmed the state guarantee provided back in August 2012 to ensure the fulfillment of debt obligations under a $1.5 billion loan raised by the State Food and Grain Corporation of Ukraine from the Export-Import Bank of China.
“To establish that the state guarantee ensures the fulfillment of debt obligations under the loan, taking into account the changes determined by the deed with debt obligations, which relate, in particular, to the postponement of the repayment of the loan and the payment of interest on it, as well as the capitalization of accrued interest in connection with by postponing their payment,” reads Delo in Resolution No. 1385 published on the government’s website.
In connection with the fact that due to the introduction of such changes, the volume of the state’s obligations will increase, the Ministry of Finance is instructed to foresee this during the preparation of the project of the state budget of Ukraine for the relevant year.
The Cabinet of Ministers also authorized the Minister of Finance Serhiy Marchenko to sign documents to confirm the state guarantee, taking into account the specified changes.
