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World Bank Board okays US$378.425 million loan for expansion of power transmission in Ukraine
23.12.2014 14:51 "Agro Perspectiva" (Kyiv) —
The World Bank’s Board of Executive Directors on December 22, 2014, approved a US$378.425 million loan for the Second Power Transmission Project to improve the reliability of the power transmission system and support the implementation of the Wholesale Electricity Market in Ukraine, NRCU reports referring to the World Bank statement.
As to the report, the Project includes a US$48.425 million loan provided by the Clean Technology Fund (CTF), which will be used to assist Ukrenergo in the design and installation of the next generation of modern communications, grid management, and control systems, which will enable large-scale integration of wind and solar energy resources and improve management and operation of the transmission network.
Reportedly, this new project is part of the World Bank Group’s overall assistance to Ukraine announced in March this year. The Bank Group has pledged up to US$3.5 milliard of new lending for Ukraine in 2014, of which over US$2.5 milliard has already been provided.
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