KIEV, Nov. 9 (Xinhua) -- The World Bank will provide a loan of 200 million U.S. dollars to Ukraine to help improve the country's electricity grid, under an agreement signed on Friday in Kiev.

    The disbursement of the first tranches of the loan, which is payable in 17 years with a grace period of four years, will begin next year, according to the agreement signed by Ukraine's Energy Minister Yuri Boiko and Paul Bermingham, World Bank Country Director for Ukraine, Belarus and Moldova.

    The money will be used for upgrading high-tension lines and improving transformer substations in Ukraine, said Bermingham.

    The World Bank's financial support for Ukraine was important either economically or politically, Boiko told reporters after signing the agreement.