Annual inflation in Ukraine climbed to 10.9 percent in October, down from 11 percent in September.

The regulator’s decision was based on some key factors, including declining annual inflation rates, as well as pro-inflationary risks in the global and domestic economy.

Inflation has exceeded the central bank’s 3 percent target for several months. Annual price growth was 12.5 percent in November, down from a record high of 12.8 percent in October.

The projects with a total cost of $701 million are being implemented by Natural Gas-Stream, a joint venture of the Uzbekneftegaz and a German company Gas Project Development Central Asia.

The rate on access operations to provide liquidity was set at 10.75 percent and the rate on access operations to withdraw liquidity - at 8.75 percent.

The grant is part of the COVID-19 Emergency Support from Germany 2020 which includes a 5.8 million euro grant and a 15 million euro subsidised loan.