Verkhovna Rada adopts as a basis draft law

Verkhovna Rada adopts as a basis draft law "On introduction of amendments into Item 3, Chapter VI "Final and transitional provisions" of Budget Code of Ukraine" (as to development of motor roads of state importance)

Information Department of the Verkhovna Rada of Ukraine Secretariat
Published on 16 June 2015, at 16:49

The draft law No. 2940 offers to supplement Item 3 of Chapter Vi "Final and transitional provisions" of the Budget Code of Ukraine with words "as well as the implementation of the projects on development of state motor roads," which means to rule that provisions of Section 4, Article 17 of the Code are not applied during provision of state security on loans (borrowings) of economic entities engaged in implementation of the projects on development of state-owned motor roads.

Section 4, Article 17 of the Code determines that state security is not provided to cover debt liabilities of economic entities if the direct source of redemption of the loans (borrowings) are the funds of the state (local) budget (except for debt obligations emerging on loans (borrowings) from international financial organizations).

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