The French Republic will provide Ukraine with EUR 1.2 billion of program funding that can be used for joint projects, Deputy Head of the President's Office Rostyslav Shurma has said.

"Today, the President of France announced a new program of financial cooperation with Ukraine. In addition to the already allocated macro-financial assistance of EUR 1.2 billion from the European Union, the French side allocates another EUR 1.2 billion of program funding," the presidential press service said, citing Shurma.

According to him, EUR 200 million of this amount will be provided in the form of a loan, another EUR 1 billion – in the form of financial guarantees, under which Ukraine will be able to receive loans from French banks on favorable terms.

At the same time, it is specified that the funds received under program funding can be directed to joint Ukrainian-French projects.

"The directions for which these funds can be used will be additionally agreed with the French side and will provide for the involvement of French suppliers and contractors," Shurma said.