Ukraine Finance Ministry paid USD 87.6 mln of Chinese Eximbank loan to SFGCU

The Ministry of Finance of Ukraine paid UAH 2.5 bln (USD 87.6 mln) of the Chinese Eximbank (the Export-Import Bank of China) loan to the State Food and Grain Corporation of Ukraine (SFGCU) instead of the corporation, EPravda reports.

The payment was agreed to be made every 6 months: on 21 January and 21 July, the Finance Ministry adds.

Ukraine received a response from the Chinese government to a request to restructure the "grain loan." The Chinese side suggested that the issue be resolved at the level of the "relevant authorities."

The ministry says that the Ukrainian side will insist on restructuring.

For context, in March 2012, the SFGCU received a USD 1.5 bln loan from the Export-Import Bank of China under a Ukrainian government guarantee for grain supplies to China.