The Cabinet of Ministers of Ukraine allowed Finance Ministry to borrow money at foreign markets by getting credit in euro, the sum of which does not surpass equivalent of $630 million as the government reported.
“The external state borrowing will take place by obtaining credit for the total sum in euro, which does not surpass equivalent of $630 million. The commitments on the credit in euro, which does not surpass equivalent of $375 million are provided by the guarantee of the International Bank for Reconstruction and Development in accordance with the credit agreement between Ukraine, International Bank for Reconstruction and Development, Deutsche Bank AG, London Branch and TMF Global Service (UK) Limited”, the message said.
The Finance Ministry will borrow money of 5,9 % per annum, the commission for the organization of the credit will make 0,8%. The credit is provided in the form of two tranches: tranche A is planned to attract for four years and tranche B for ten years.
As we reported, Ukraine expects two tranches from the IMF in 2019 under the stand-by program opened in December last year.
Previously, in October 2018, Ukraine and the IMF agreed to implement the stand-by program; Ukraine received the first loan in December 2018.