Germany, EU Announce Loan for Chernivtsi Water Project

14 Apr 2016 by OOSKAnews Correspondent
KYIV, Ukraine

The European Union and the German government this week announced that they are providing a long-term concessional loan to municipal water utility Chernivtsivodokanal for a project to renovate the drinking water system in Chernivtsi, Ukraine.The loan will be disbursed in three tranches. The first installment, which took effect last month, will total some $19 million USD. The second tranche will total some $24.4 million USD and the third, $26 million USD.The German support is being channeled through development bank KfW, while the EU funds are being provided through a Neighborhood Investment Facility infrastructure rehabilitation program in Ukraine...

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