KIEV, March 27 - Chinese company CITIC Construction Co., Ltd is ready to invest $15 billion in the Ukrainian construction industry to alleviate the shortage of affordable housing in the country.

According to the Ministry of Regional Development, Construction, Housing and Utilities Services, authorized representatives of the Ukrainian ministry and the Chinese Corporation signed the corresponding memorandum in Kiev on March 26.

The memorandum foresees Ukraine obtaining a loan totaling $15 billion from Chinese credit institutions and organizations at a minimum interest rate for 15 years with the possibility of extension.