Ukraine Receives EUR 200 Million From Italy

Ukraine received a EUR 200 million soft loan from the Republic of Italy on August 15.

Ukrainian News Agency learned this from a statement of the Ministry of Finance.

According to the terms of the loan agreement, the funds are provided at a zero interest rate for 15 years (taking into account the grace period for deferring loan repayment - 7.5 years).

The funds received will be used to cover expenses for salaries of teaching staff of general secondary education institutions.

The credit agreement was signed on August 5 between Ukraine represented by the Minister of Finance of Ukraine as the borrower and the Government of the Italian Republic represented by the Minister of Economy and Finance of the Italian Republic as the creditor.

As Ukrainian News Agency earlier reported, at the beginning of June, Ukraine received EUR 150 million from the Credit Institution for Reconstruction (KfW, Germany) to finance social costs.