CDB pledges $120 million loan for modernization of Novopavlivska, Melnykov and Shakhtarska-Hlyboka coal mines (Linked to Project ID#42513)

On September 2, 2010, China Development Bank (CDB) and the Government of Ukraine’s Ministry of Energy and the Coal Industry signed a $1.03 billion loan framework agreement. The agreement was signed by the Ukrainian Minister of Energy and the Coal Industry Yuriy Yaschenko and Chairman of CDB Chen Yuan. Under the agreement, the Government of Ukraine’s Ministry of Energy and the Coal Industry submitted a package of seven investment projects for consideration by CDB. The seven projects that were submitted for consideration to CDB included: $85 million for the Melnykov coal mine in Luhansk run by the Lysychanskvuhillia state-owned enterprise (captured in Project ID#42515), $120 million for the modernization of the Novopavlivska, Melnykov and Shakhtarska-Hlyboka coal mines in Luhansk and Donetsk (captured in Project ID#42516), an unknown amount for the modernization of the Novopavlivska coal mine in Luhansk run by the Donbasantratsyt state-owned enterprise, an unknown amount for the modernization of the Shakhtarska-Hlyboka coal mine run by the Shahtarskantratsyt state-owned enterprise, an unknown amount for the modernization of the Rossiya coal mine run by the Selidovuhillia state-owned enterprise (captured in Project ID#42519), and an unknown amount for the the Dymytrov and Stakhanov coal mines in Donetsk run by the Krasnoarmiyskvuhillia state-owned enterprise (captured in Project ID#42520).

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6