Ukraine has received EUR 150 million from the Kreditanstalt fur Wiederaufbau (Credit Institute for Reconstruction, KfW, Germany) to finance social expenses.
This is stated in the message of the Ministry of Finance, Ukrainian News Agency reports.
"Another loan from the Credit Institute for Reconstruction (KfW) in the amount of EUR 150 million was transferred to the state budget of Ukraine," it says.
These loans were provided as co-financing of the Additional Financing of the Loan for Development Policy in the Context of the Emergency Economic Situation of the International Bank for Reconstruction and Development.
The funds raised will be used for social and educational and health expenses.
As Ukrainian News Agency earlier reported, the agreement on the provision of a loan to Ukraine was signed by the Minister of Finance of Ukraine Serhii Marchenko and KfW Director for Eastern Europe, the Caucasus and Central Asia Olaf Zymelka on May 24, 2022.
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 - 5 years).
Who we are: About us, Contacts. How we write news and our principles: Editorial code. We did our best. If you found this valuable – please support us.
To request a correction, please send an email.