Cabinet Decides To Attract EUR 300 Million In Loan From French Development Agency

The Cabinet of Ministers decided to attract a EUR 300 million loan from the French Development Agency.

This is stated in government decree No. 358, Ukrainian News Agency reports.

State external borrowings in 2022 are carried out by attracting a loan from the French Development Agency for a total amount that does not exceed EUR 300 million and is provided in accordance with a loan agreement between Ukraine represented by the Minister of Finance of Ukraine as a borrower and the French Development Agency as a lender (hereinafter referred to as the loan agreement), within the limits provided by the law "On the State Budget of Ukraine for 2022".

The loan amount bears interest at a fixed annual interest rate of 1.04%.

Interest will be paid every six months in accordance with the terms of the loan agreement.

The final repayment of the loan - in 15 years from the date of conclusion of the loan agreement (taking into account the grace period for deferring the repayment of the loan for a period of five years from the date of conclusion of the loan agreement).

As Ukrainian News Agency earlier reported, the Cabinet of Ministers decided to raise loans from Cargill Financial Services International up to EUR 250 million.