Drawdown of funds during implementation of KfW projects reaches 25% – Finance ministry

09:19, 09.04.2021 1 min read

Ukraine, in cooperation with Germany's KfW Development Bank, is implementing three investment projects with a funding of EUR 207.5 million, of which EUR 53.38 million, or 25.7%, was drew down as of April 1, 2021, the Ministry of Finance said following the revision of the portfolio of KfW projects on Thursday.

According to a report on the ministry's website, one of the ongoing projects EU Support for the East of Ukraine financed 119 micro-, small- and medium-sized entrepreneurs and compensated the cost of equipment purchased by the business for UAH 602.5 million via partners – OTP Leasing, Oschadbank and Ukrgasbank.

During the meeting, Deputy Finance Minister Oleksandr Kava said that the conclusion of a bilateral framework intergovernmental agreement will give impetus for more effective cooperation and preparation of loan and grant projects.