Ukraine to borrow EUR 12 m from KfW under SMBs project

12:56, 29.12.2012 1 min read

Ukraine plans to borrow EUR 12 million from Kreditanstalt für Wiederaufbau (KfW) to implement a project to support small- and medium-sized businesses (SMB), according to the Cabinet of Ministers.

A corresponding draft agreement between the Cabinet of Ministers, the German-Ukrainian Fund (the GUF, which will implement the project), and KfW is sealed by government resolution No. 1072-r dated December 14, 2012.

Finance Minister Yuriy Kolobov has been authorized to sign the agreement, reads a posting on the Cabinet's official Web site.

The GUF's fee for servicing the loan is set at 0.25% per annum of the unpaid sum of the loan.

The GUF is founded by the National Bank of Ukraine, KfW, and the Ukrainian Finance Ministry.