Finance Minister Marchenko Signs Agreement With French Development Agency On EUR 300 Million Loan

On March 28, Finance Minister Serhii Marchenko signed an agreement with the French Development Agency on obtaining a loan in the amount of EUR 300 million on favorable terms.

The Ministry of Finance has said this in a statement, Ukrainian News Agency reports.

"I am very grateful to our French colleagues for the prompt decision. The funds provided to us are extremely important for maintaining the stability of the financial system in the context of a full-scale war with the Russian Federation," Marchenko said.

The loan is provided at a fixed interest rate of 1.04% per annum for a period of 15 years (taking into account the grace period for deferring loan repayment for a period of five years from the date of conclusion of the loan agreement).

The funds will be used to finance the state budget.

As Ukrainian News Agency earlier reported, the Cabinet of Ministers decided to raise a EUR 300 million loan from the French Development Agency.