Russian credit became 3% more expensive to Ukraine

Since December, 13, 2013, Russia will receive 9.5% per annum from the credit sum. Change of an annual rate is mentioned in the resolution # 892 adopted in December, 4, 2013, by the executive power of Ukraine. The syndicated loan defined by the state budget in 2013, is 4.5 billion dollars. Until today, under the resolution No. 592 in August, 21, 2013, the profitability rate on a syndicated loan of 750 million dollars has been 6.5%. One of creditors was Sberbank CIB (Russian Federation) which in addition determined a commission payment of 3.02% of the sum of the credit. The term of return of borrowed funds is 2 years.

A month after, in September, 21, 2013, the Russian President’s Сounselor Sergey Glazyev predicted fast default in Ukraine after singing an Association Agreement which consequences could exceed 25 billion euro. "The credit of 750 million dollars will allow to stabilize the balance of payments of Ukraine", Glazyev emphasized.

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