Poroshenko’s former plant has paid off 300 million in debt

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Poroshenko’s former plant has paid off 300 million in debt

02.12.2020 News

The Kyiv shipyard Kuznya na Rybalskomu (Ukrainian: “Кузня на Рибальському”) has returned to the state budget more than 300 million UAH, which the Ministry of Finance had previously paid on the company’s debts.

It is noted that in 2017 the government provided state guarantees for a plant loan from Ukreximbank. The credit line allowed to borrow UAH 528.98 million, but in fact Kuznya na Rybalskomu received UAH 334.04 million.

In the period from July 27, 2018 to October 24, 2019, the plant repaid the bank UAH 330 thousand of debt and paid interest in the amount of UAH 35.58 million.

In early 2020, Ukreximbank appealed to the Ministry of Finance to fulfill its warranty obligations because the plant was unable to make the next payment.

As a result, from April to November, the State Treasury Service of the bank transferred UAH 301.26 million to fulfill guarantee obligations, UAH 252.33 million of which was the amount of debt, UAH 48.39 million was interest, and UAH 0.54 million was interest fine.

On November 20, Kuznya na Rybalskomu repaid all debts to the state budget. In addition, on November 24, the plant transferred UAH 6.21 million in penalties for non-compliance. By December 10, the debtor must pay another 6.3 million hryvnias in fines to the state budget.

The plant paid its debts after receiving funds from the Ministry of Defense. The certificate states that in November the department transferred 688 million hryvnias to Kuznya na Rybalskomu.

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