At a meeting on May 17, the Cabinet of Ministers has endorsed a resolution to attract a soft loan of up to EUR 150 million from the State Bank of Germany “Credit Institute for Reconstruction” (KfW). The loan is provided for a period of 15 years, taking into account the grace period for the first payment of 5 years from the date of concluding the agreement.
According to Prime Minister Denys Shmyhal, the financial support of Ukraine’s international partners since February 24 has reached more than $5 billion.
“Ukraine will receive an additional EUR 150 million financial support from Germany, which increases the total amount of such assistance from Germany to EUR 300 million. This resource will be promptly used to support our citizens and rebuild critical infrastructure,” emphasized Denys Shmyhal.
Besides, the Prime Minister highlighted that lately the Government had reached an accord on receiving a loan from the Government of Japan to the tune of $100 million and a financial aid from the World Bank amounting to $1.5 billion. (Government portal/Business World Magazine)