KfW on behalf of the German Federal Government signed a loan agreement amounting to EUR 150 million with the Ukrainian Ministry of Finance today.
Source: Christiane Laibach, Member of the Executive Board of KfW Group
“The funds made available under the Economic Emergency Aid Programme represent direct and rapid support for the Ukrainian government in mitigating the economic and social consequences of the Russian attack on Ukraine, which violates international law. We are helping to prevent a drastic deterioration of the supply situation for wide swathes of the population and, at the minimum, can partially cushion the socio-economic effects through this.”
Following 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).
Uaposition memo: Kreditanstalt für Wiederaufbau is a German state-owned bank in which the German federal government owns 80% of the shares and the federal states of Germany 20%.
See also: Germany launches program to exchange Ukrainian cash hryvnia for euros on May 24
