China ready to invest $15 bln in Ukrainian mortgage market
2013-12-06 10:53:43
China wants to finance programs for the construction of social housing in Ukraine and is ready to invest $15 billion in the mortgage market.
A Ukrinform correspondent learned from sources close to negotiations that a respective memorandum was signed during Ukrainian President Viktor Yanukovych's visit to Beijing.
"This is a memorandum on mutual cooperation between the two companies - the State Mortgage Institution and the CITIC construction company - that the sides will cooperate as part of obtaining a 15-billion-dollar loan for the development of the mortgage market in Ukraine," a source said.
He said that this document is the first step of preparations for the signing of a contract for the provision of these funds to the Ukrainian side. "The chances of getting [the loan] are increased, because this is one of the serious Chinese construction companies that builds around the world and that can really enter the Ukrainian construction market with money."
CITIC Construction is the construction and engineering subsidiary of the CITIC Group (the China International Trust and Investment Corporation). With $2.73 billion in revenue in 2011, the company is ranked among the 100 largest construction companies in the world.