Ukraine can obtain EUR 500 mn loan in April

"Today we have a rather important task which is to consider and agree on the text of the Memorandum, the framework agreement and the Annex to it", stressed Deputy Minister of Regional Development, Construction, Housing and Utilities Roman Chuprynenko during bilateral consultations between the representatives of the Governments of Ukraine and Germany held in Kiev through March 17-18.

Thus, in the framework of the consultations the parties will discuss and approve the final text of the Memorandum, the framework agreement and its annex under which Ukraine is to obtain a loan worth EUR 500 million.

Roman Chuprynenko reminded that on March 16 there took place a visit of President of Ukraine Petro Poroshenko to the Federal Republic of Germany and a meeting with German Chancellor Angela Merkel. In the event was also participating Vice Prime Minister, Minister of Regional Development, Construction, Housing and Utilities Hennadii Zubko, who is the Chairman of the Ukrainian part of the Ukrainian-German high-level group on economic cooperation.

"During this meeting, which concerned, in particular, an issue of obtaining a KFW Bank credit to restore the eastern part of Ukraine, as well as areas to use the funds, much progress has been made," added Roman Chuprynenko.

According to Roman Chuprynenko, the signing of the Memorandum is scheduled for early April, and after that the document should be ratified by the Verkhovna Rada of Ukraine.

"As a result, Ukraine will be able to receive the credit funds to be directed to macro-economic budget support, infrastructure rehabilitation in the eastern region of the state, creation of new jobs etc.," explained Roman Chuprynenko.

It should be noted that the Ukrainian part of the working group include representatives of the Ministry of Regional Development, the Ministry of Foreign Affairs of Ukraine, Ministry of Economy, Ministry of Infrastructure, Ministry of Justice of Ukraine and the Ministry of Finance, while the German team is comprised of representatives of the Federal Ministry for Economic Affairs and Energy, Federal Ministry of Finance, Federal Ministry of Transport and Digital infrastructure and the KfW development bank.