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. Last Updated: 07/27/2016

Ukrainian Credit

MOSCOW -- The World Bank has extended a $100-million credit line to Ukraine to finance restructuring of its mining industry, Interfax reported.

"The World Bank will lend the money to the 20 mines with the best production records in order to install modern equipment and improve conditions of work and safety, create new jobs and cushion the social impact of restructuring," said Vladislav Sokolovsky of the state company charged with reforming the mining industry.

The ministry for mines was drawing up a list of other mines for another World Bank project, Interfax said.

Ukraine has about 680,000 miners working in more than 200 mines. Strikes over unpaid wages have occurred at several mines in recent weeks.