Ukraine receives EUR 200 mln of interest-free loan from Italy for teachers' salaries

14:18, 16.08.2022 1 min read

Ukraine has received EUR 200 million in the form of a soft loan from Italy at a zero interest rate for 15 years, taking into account the grace period of deferred repayment of the loan of 7.5 years, the Finance Ministry said on Tuesday.

"The funds received will be used to ensure the salaries of teaching staff of general secondary education institutions," the Finance Ministry said.

As reported, the loan agreement was signed on August 5 between Ukraine represented by the Minister of Finance as a borrower and the Government of Italy represented by the Minister of Economy and Finance as a lender.