Ukraine, Germany agree on EUR 500 mln loan guarantees

11:14, 08.01.2015 1 min read

The Ukrainian and German governments signed a joint statement over provision of EUR 500-million loan guarantees in Berlin on Wednesday.

The statement was signed by Ukraine's Minister of Economic Development and Trade Aivaras Abromavicius and German Federal Ministry for Economic Affairs and Trade's State Secretary Matthias Machnig, a spokesperson for the Ukrainian government said.

The statement was signed during a meeting between Ukrainian Prime Minister Arseniy Yatseniuk and German Vice Chancellor and Minister for Economic Affairs and Energy Sigmar Gabriel.

Yatseniuk said that rebuilding infrastructure in eastern parts of Ukraine was among his government's priorities. "The money will be used to build bridges, hospitals, the railroad and social infrastructure," he said.

The loan is provided for a period of up to 20 years at a very low interest rate, the premier stressed.