Ministry of Finance: Ukraine will receive a EUR 200 million interest-free loan from Italy

On July 12, the Cabinet of Ministers of Ukraine adopted a Resolution* on attracting an interest-free loan from Italy in the amount of up to EUR 200 million through the IMF's administrative account.

The funds will be directed to the state budget of Ukraine to finance the salaries of teaching staff of general secondary education institutions.

The loan is granted for 15 years (taking into account the grace period of deferment of loan repayment for a period of 7.5 years). Interest is not accrued for using the loan.

*Resolution of the Cabinet of Ministers of Ukraine "On state external borrowing in 2022 by attracting a loan from the Government of the Italian Republic in the person of the Minister of Economy and Finance of the Italian Republic"