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Business & Finance

Ukraine borrows $376mn from Sberbank

KIEV : The government of Ukraine has borrowed $376 million from Russia 's Sberbank to finance road construction ahead
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By Muhammad Iqbal
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imagKIEV: The government of Ukraine has borrowed $376 million from Russia's Sberbank to finance road construction ahead of the Euro 2012 soccer championship, Sberbank said on Wednesday.

Sberbank did not disclose the terms of the loan but said it was "long term".

Ukraine and Poland will co-host the soccer championship next year and the event requires heavy investment in infrastructure.

Copyright Reuters, 2011

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