Poroshenko asks Rada to ratify memo with Germany on EUR500 mln loan to restore Donbas infrastructure

16:04, 08.07.2015 1 min read

President of Ukraine Petro Poroshenko has submitted to the Verkhovna Rada a bill on the ratification of a memorandum with Germany on a EUR500 million loan for the restoration of infrastructure in eastern Ukraine.

According to the press service of the presidential administration, the memorandum was signed in Berlin on April 1, 2015.

"The German government intends to provide necessary guarantees for an unrelated financial credit of KfW in the amount of EUR 500 million," the press service said.

Funds will be raised for investment in the restoration and modernization of infrastructure in the eastern regions of Ukraine in the following fields: transport, energy, heating, energy efficiency, water supply and drainage, social infrastructure, and housing construction and reconstruction.