14:11 29.06.2016

KfW mission to approve Donbas restoration projects early July

2 min read
KfW mission to approve Donbas restoration projects early July

The mission of Germany's KfW will arrive to Ukraine on July 4 to approve projects on the implementation of the second part of untied financial loan of EUR 300 million that could be sent to the target projects by the end of 2016, Deputy Prime Minister and Regional Development, Construction, Housing and Utilities Economy Minister of Ukraine Hennadiy Zubko has said.

Commenting on the course of a working visit of Ukrainian Prime Minister Volodymyr Groysman to Germany, Zubko also said that along with the approval of the final list of joint projects with Germany, the sub-loan agreements with the Energy and Coal Industry Ministry, Infrastructure Ministry and Regional Development, Construction, Housing and Utilities Economy Ministry will be also approved.

"Some of the funds could be used to restore Donbas infrastructure. If we assess the financing in directions, EUR 150 million has been allotted for energy projects, EUR 80.67 million for infrastructure projects and EUR 60 million to buy equipment to upgrade locomotive fleet. The total amount of financing of agreed projects reached EUR 290.67 million," Zubko said.

The press service of Zubko recalled that a memorandum on joint intentions between the government of Ukraine and the government of Germany for an unrelated financial loan totaling EUR 500 million was signed in Berlin on April 1, 2015.

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