Italy grants Ukraine EUR 200 mln preferential loan for teachers' salaries

11:21, 06.08.2022 1 min read

Italy is providing Ukraine with a preferential interest-free loan of EUR 200 million which will be transferred to the national budget to pay salaries to teachers at secondary education establishments.

Ukrainian Minister of Finance Serhiy Marchenko has signed respective loan agreement on Friday, August 5, according to the Ministry of Finance.

The loan will be issued for a period of 15 years with a grace period of seven and a half years.

"The government of Italy was one of the first to support Ukraine after the start of the full-scale invasion. And today I am pleased to sign a new loan agreement that will help the Ukrainian government maintain financial stability and continue to provide priority social spending," the ministry quoted Marchenko as saying.