The Cabinet of Ministers of Ukraine adopted the regulation to hold public external borrowing in 2020 through the attraction of credits from Cargill Financial Services International Inc., as the Ukrainian government reported.
"The credits will be attracted to implement the law On the state budget of Ukraine for 2020,” the message reads. The total sum of the credit is up to 250 million euros.
Interest income is calculated at the 5.95% annual rate for the sum of the credits with the term of repayment in three years after the date of receiving of credit funds. Besides, the interest income at the 6.85% rate is calculated with the repayment term of five years.
The interest income will be paid quarterly.
The credits will be repaid with funds provided by the law On the state budget for the proper year.
As we reported, in late August, Ukraine may sign a loan agreement for $350 million with the International Bank for Reconstruction and Development.