Ukraine to redeem Ukrainian Danube Shipping Company debts

The Law on the Ukrainian budget for 2013, adopted by the Verkhovna Rada, provides for the possibility to repay the debts of the PJSC «Ukrainian Danube Shipping Company» (Izmail) to the National Bank of Ukraine and Ukreximbank, izmacity.com reports.

Article 17 of this Law provides the Cabinet of Ministries with the right to issue home loan bonds for the amount of 300 million UAH with subsequent buying into the state ownership, to exchange these bonds for additional shares of the shipping company.

English translation by BSN