We continue to mobilise the assistance of our partners for resilience and reconstruction: Denys Shmyhal

During its session on 4 June, the Government approved a draft law on the ratification of the intergovernmental agreement between Ukraine and the Republic of Korea. According to Prime Minister Denys Shmyhal, the Economic Development Cooperation Fund of the Republic of Korea will provide Ukraine with a loan of up to USD 2.1 billion.

Moreover, the Cabinet of Ministers distributed funds from the International Bank for Reconstruction and Development under the ARISE project. This is UAH 2.4 billion to support our farmers.

“We are talking about loan guarantees to stimulate lending to small and medium-sized agricultural producers, as well as grants for small farms,” noted Denys Shmyhal.

Among other things, the Government has adopted a decision to attract a loan from the Council of Europe Development Bank in the amount of EUR 100 million. These are funds for the implementation of the HOME. Compensation for Destroyed Property project, the Prime Ministers said.

Apart from that, the Cabinet of Ministers endorsed a mechanism to stimulate the creation of industrial parks. Park founders will receive non-refundable funds for the construction of engineering and transport infrastructure or compensation for the cost of connecting to the power grid.

“The amount is up to UAH 150 million, which will cover up to half of the costs, and up to 80% of the costs for the de-occupied territories. Currently, 81 industrial parks are registered in Ukraine,” added the Prime Minister.

Denys Shmyhal emphasized the Government expect the process to accelerate, and the sites to attract significant amounts of domestic and foreign investment.