German KfW Development Bank contracted 200 mln EUR loan to Ukraine
These funds are to cover infrastructure and energy sectors
Ukraine raised a loan from German government-owned development bank KfW (Kreditanstalt für Wiederaufbau), and the loan contract is already signed by the sides, Interfax.
Most of the amount will come to Urkaine until the end of the year, states Roland Siller, KfW Director and Senior Vice President for Europe and Asia.
KfW is to provide the three other parts of the credit in the total amount of 500 mln EUR. This money will cover the energy sector expenditures, infrastructure projects, and the purchase of goods for these two areas, said the Minister of Finance Natalia Yaresko. The Ministry of Finance also announced that the interest rate (annual) is less than 2.6%.
The loan was granted for five years, and the first payment should be done in five years.
The agreement on the financial loan was signed in Berlin, April 1, 2015, according to which German government provides the necessary guarantees for the KfW financial credit in the amount of 500 mln EUR. These funds will be involved in the restoration of a part of Ukraine.
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