The Cabinet of Ministers has authorized the Ministry of Finance to prolong the agreement with the European Investment Bank (EIB) on attracting EUR 200 million for financing the reconstruction of infrastructure destroyed during the military operations, as well as for resolving the problems of internally displaced persons.
The relevant draft order was adopted by the government at a meeting without discussion.
According to an explanatory note to the document, as of January 1, Ukraine had used only EUR 15,000 of the credit. At the same time, the terms of the agreement stipulate that Ukraine can apply for money until December 31, 2016. By the corresponding letter, the parties intend to postpone the date for credit reservation and the last date of funds redistribution until December 31, 2017.
The agreement on the issue of a loan for EUR 200 million under the Emergency Credit Program for the Restoration of Ukraine was signed by Prime Minister of Ukraine Arseniy Yatsenyuk and EIB Vice President Laszlo Baranyay in Kyiv on December 22, 2014. The bank board of directors approved the draft agreement on December 16, while the Ukrainian government approved it by its orders of December 19, 2014. (Interfax-Ukraine/Business World Magazine)