Finance Minister Serhiy Marchenko and KfW Director for Eastern Europe, Caucasus and Central Asia Olaf Zymelka have signed an agreement on a EUR150 million loan for 15 years for budgetary support, the Ministry of Finance reported.
“The funds raised will ensure stable financing of priority areas and will be used for social spending, education and healthcare,” Marchenko said.
The loan is provided as co-financing of the International Bank for Reconstruction and Development (IBRD)’s Supplemental Financing of the Economic Recovery Development Policy Loan. The grace period with a deferral of repayment of the principal amount of the loan will be five years.
