10:20 30.03.2022

Ukraine to receive EUR 300 mln loan from French Development Agency

1 min read
Ukraine to receive EUR 300 mln loan from French Development Agency

On March 28, Minister of Finance of Ukraine Serhiy Marchenko signed an agreement with the French Development Agency (AFD) on obtaining a loan in the amount of EUR 300 million on preferential terms, the Ministry of Finance said on Tuesday.

"I am very grateful to our French colleagues for the prompt decision. The funds provided to us are extremely important for maintaining the stability of the financial system amid the full-scale war with the Russian Federation," the minister said.

The loan is provided at a fixed interest rate of 1.04% per annum for 15 years (taking into account the grace period for deferred repayment of the loan for a period of five years from the date of conclusion of the loan agreement), the ministry said.

According to him, the funds will be used to finance the state budget.

Prime Minister of Ukraine Denys Shmyhal, in an interview with Interfax-Ukraine, recently said that Ukraine has already received more than $3 billion in international financial support since the beginning of the war, and negotiations for another $10 billion are underway.

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