OREANDA-NEWS. The World Bank, the Ministry of Fuel and Energy of Ukraine and Ukrenergo, the state company that runs the backbone of the Ukrainian power grid, have signed a credit agreement for USD 200mn, Millennium Capital, a financial services provider, reports. The loan is granted with an unprecedented interest rate of LIBOR+0. It is to be used to finance the USD 238mn "Electricity Transmission" program. The program is to improve Ukrenergo’s transmission capacity and renovate existing power lines and substations. The term of the loan is 17 years with a 4-year grace period. The announced date of completion of the Electricity Transmission program is 2010-2012, which concurs with experts' conservative estimate as to Ukraine's grid hooking up with UCTE in 2013.