U.S. Overseas Private Investment Corporation (OPIC) has repeatedly approved the provision of $6.407 million loan with twelve-year tenor to Ukrainian Catholic University of the Ukrainian Greek-Catholic Church in Lviv.
According to a report of OPIC, the funds will be used for the construction of a multi-purpose academic building and a residential building to expand the university campus.
The total cost of the project is $13 million. The U.S. sponsor is Ukrainian Catholic Education Foundation Inc., a not for profit corporation organized in Illinois.
According to the materials, with the expansion of academic and residential buildings, the university expects enrollment to increase by 50 percent in the coming years, while the school also expects to nearly double the number of need-based scholarships it offers for local students.
As reported, last year OPIC approved the similar project. Then the loan was $6.2 million with the total cost of the project of $12 million.
Ukrainian Catholic University was built in 2002.
