SOFAZ sovereign wealth oil fund holds proceeds from oil contracts, oil and gas sales, transit fees and other revenue.

According to Fitch, progress in reducing reliance on public sources of funding and moving towards market-determined financing costs differed across sectors and entities.

Annual inflation in November was 6.2 percent, up from 5.7 percent in October this year. The central bank projects annual inflation this year in a range of 6.3-6.6 percent.

The loan is a part of a 450 million package to finance the upgrade of sections of the M-05 Kyiv-Odessa road in the Kirovohrad, Mykolaiv and Odessa regions.

PrivatBank reported a net profit of 21.2 billion hryvnias ($806 million) in January-September this year.