Kiev to receive $15 billion from China for housing construction

A Ukrainian governmental official and CITIC Construction (a subsidiary of China’s CITIC Limited) signed a memorandum today. The document stipulates that Ukraine will receive $15 billion from China at a minimal interest rate for 15 years to build housing and organize the housing fund and infrastructure, Gazeta.ru reports.

The realization of the pilot project for construction of cheap housing for $1 billion will be a priority. CITIC will be the general contractor.