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NEWS Last modified on September 6, 2010

Helping hand

China has pledged nearly $4 billion to fund infrastructure development projects in the Ukraine, $950 million of which will be spent on the creation of a new high-speed rail link between...

China has pledged nearly $4 billion to fund infrastructure development projects in the Ukraine, $950 million of which will be spent on the creation of a new high-speed rail link between downtown Kiev and Boryspil International Airport.

Ukrainian President, Viktor Yanukovych, visited China last week to seal the deal with the China National Machinery Industry Complete Engineering Corporation (CMCEC), a foreign trade enterprise that is involved in international project contracting.

The Chinese cash injection is designed to help the Ukraine upgrade its key infrastructure ahead of it co-hosting the Euro 2012 football championships.

Among the Chinese investors are China Road Bridge Corporation and China Eximbank.

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