Deputies of the Odessa city Council voted for implementation of the borrowing to the city budget in 2017 in the amount of 1 billion UAH.

As the correspondent of “Interfax-Ukraine”, for a decision on Wednesday, the 44 deputies voted.

The loan will attract in the current year, in Ukrgasbank. Interest rate for using credit funds% to 17.5% per annum, the borrowing period to five years with the possibility of early repayment of the loan.

According to the draft decision on the matter, the loan is scheduled to repay in quarterly installments. However, no property of the city to the Bank Deposit does not go away .

As explained by the Director of the Finance Department of Odessa city Council Svetlana Bedrega, the money will be used for a number of facilities, including repair of systems of water and heat supply and completion of the construction of schools and kindergartens, modernization of elevators, the reconstruction of the monument of architecture of national value of the House of Russov, etc.

The expenditures of the budget of development of Odessa in 2017 (excluding the subventions and subsidies from the state and regional budgets) amounts to almost UAH 2.5 billion.

Earlier in the year 2017, the Odessa city Council has placed on Deposit in PrivatBank UAH 300 mn and UAH 299 million Ukrgasbank “temporarily available assets” under the interest rate, which, according to deputies, 3процентных points less than the loan rate.