KIEV, Aug. 23 – The Cabinet of Ministers has approved the raising of a loan worth $3.656 billion from China Development Bank to fund the replacement of natural gas by coal extracted in Ukraine, a source in the government told Interfax-Ukraine.

"The cabinet on Wednesday approved the raising of over $3.6 billion from the Chinese bank by Naftogaz," he said.

He said that the funds will be raised for projects to switch pumped storage plants from consuming natural gas to coal.