Kyivenergo expects World Bank loan in May

Kyivenergo (UX: KIEN UK) Board Chairman Eduard Sokolovskiy said yesterday that the utility expects to receive a loan from the World Bank in May, according to local media reports. Sokolovskiy said the company has submitted an application for USD 180 mln to the World Bank and expects to receive an answer within a month. Kyivenergo plans to use the loan proceeds to rebuild five power transformation units. Yegor Samusenko: If loan is approved by World Bank, we expect a low interest rate and long-term for payback (given that Kyivenergo’s first World Bank loan was due to be repaid over more than 10 years).