Hennadii Zubko informs Ukrainian-German high-level group to select projects for the reconstruction of destroyed infrastructure of eastern Ukraine

posted 03 February 2015 17:45

This spring, in late March or early April Kyiv is planned to host a meeting of the Ukrainian-German high-level group on economic cooperation. By that time, the Ukrainian party intends to sign a Framework agreement with KfW of the Federal Republic of Germany, which should grant a loan for the reconstruction purposes. This is the next step in the implementation of a joint statement between the Government of Ukraine and the Federal Government of Germany to grant credit guarantees worth EUR 500 million to finance reconstruction of the destroyed infrastructure in Luhansk and Donetsk regions. This was announced by Vice Prime Minister, Minister of Regional Development, Construction, Housing and Utilities Hennadii Zubko following a meeting with the Federal Minister for Economic Cooperation and Development Gerd Müller.

"Providing € 500 million in credit guarantees from the Government of the Federal Republic of Germany will be carried out through KfW, a German development bank. With this purpose the Ministry of Economic Development and Trade should conclude a framework agreement with KfW. Selection of projects will be held by the joint working group, which acts within the framework of the Ukrainian-German high-level group", informed Hennadii Zubko.

It should be noted, the Cabinet of Ministers of Ukraine appointed Vice Prime Minister of Ukraine, Minister of Regional Development, Construction, Housing and Utilities a Chairman of the Ukrainian part of Ukrainian-German high-level group on economic cooperation.