The project under which Ukraine will borrow $500 million from the World Bank within Development Policy Loan III is approaching the finishing line and only needs the approval by the World Bank Board of Directors, the World Bank Country Office in Ukraine told Interfax-Ukraine on Wednesday. "The [World Bank] Board of Directors will approach this issue roughly until the end of the year, " the press secretary of the country office, Dmytro Derkach, said. In his words, the sides on Wednesday morning signed a protocol of the final stage of the talks which were held the day before and the documents will be sent to the Board of Directors. Ukrainian Prime-Minister Yulia Tymoshenko said earlier the World Bank loan would be provided for 30 years at a 5% annual interest rate and will be spent by Ukraine to close the gap of the national budget deficit.
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