Ukraine is losing Chinese billions
Ukrainian officials cannot provide the Chinese Development Bank with a specific program for financing investment projects, writes Alexander Goncharov, director of the Institute for Economic Development of Ukraine, in his blog.
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Citing the Reuters news agency, he reports that Ukraine could lose $3,65 billion of Chinese investment in the Ukrainian energy sector.
“The fact is that our officials cannot agree among themselves and provide the Chinese Development Bank with a specific program for financing investment projects, agreed upon between the Ministry of Economic Development, the Ministry of Finance and Naftogaz of Ukraine. Although the loan agreement was signed by the parties a long time ago. Andrey Suprun, the head of Uglesintezgaz of Ukraine, a subsidiary of Naftogaz of Ukraine, is also not sure that they will have time to prepare even one investment project, and the deadline comes in June of this year. Well, the failure of such a contract could be another signal for other foreign investors. How many more alarm bells will there be because of our highly paid officials?” notes Goncharov.
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