Ukraine receives €150 million from the Reconstruction Credit Institute (KfW) to finance social spending

Today, another loan from the Reconstruction Credit Institute (KfW) in the amount of €150 million was transferred to the State Budget of Ukraine.

Such funding was provided as co-financing of Supplemental Loan for Second Economic Recovery Development Loan of the International Bank for Reconstruction and Development.

The funds raised will be used for social, education and health expenditures.

Background

The loan agreement was signed by the Minister of Finance of Ukraine Serhii Marchenko and the KfW Director for Eastern Europe, the Caucasus and Central Asia Olaf Tsymelko on May 24, 2022.

In accordance with the terms of the Agreement, the loan is granted for a period of 15 years (taking into account the grace period for deferral of repayment of the principal amount of the loan - 5 years).