24 May 2022, Tuesday, 19:52 278

German KfW Allocates EUR 150 Million To Ukraine For Budget Support

Редактор: Tetiana Herasimova

Finance Minister Serhii Marchenko and Director of the Kreditanstalt fur Wiederaufbau (Credit Institute for Reconstruction, KfW, Germany) for Eastern Europe, the Caucasus and Central Asia Olaf Zymelka signed an agreement on May 24 to provide Ukraine with budget support in the amount of EUR 150 million.

This is stated in the message of the Ministry of Finance, Ukrainian News Agency reports.

The loan is provided as co-financing of additional financing of the loan for development policy in the context of an economic emergency of the International Bank for Reconstruction and Development.

The report notes that the funds raised will ensure stable financing of priority areas and will be directed to social costs and expenses in the field of education and health.

According to the terms of the agreement, the loan is provided for a period of 15 years (taking into account the grace period for deferring the repayment of the principal amount of the loan - five years).

As Ukrainian News Agency earlier reported, as part of state programs to support small and medium-sized businesses, on April 25, 2022, a KfW loan of EUR 150 million was attracted to the state budget.

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