Odesa City Council by a majority passed a resolution “On Assistance to ‘Odesa Development Programs Agency’ municipal company participating in the WB invested project ‘Municipal Infrastructure Development in Ukraine.’”
According to the explanatory note, the project has been preliminary valued at $140 million which would be distributed to the water supply and drainage system ($28.44 million) and to domestic waste processing ($7.1 million).
Ukraine will get the loan for 20 years, 5%-interest rate, five-year preferential period, commission payment for granting and 0.5% payment for the reservation, Deputy Odesa Mayor Anatoly Vorokhayev told.
“Off course, the World Bank will conduct a tender and set tight control over the implementation of the projects. Odesa municipal company was found in the last session of the Council and now it is completing procedure registration,” mentioned Vorokhaayev.
Odesa is one of six Ukrainian cities taking part in the WB project. Chernihiv, Donetsk, Ivano-Frankivsk, Kharkiv and Dniprodzerzhyns’k are the other participants.
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