Italy will provide Ukraine with a preferential loan of EUR 200 million for teachers’ salaries

Minister of Finance of Ukraine stated on August 6 on his Facebook that Italy would provide Ukraine with a preferential interest-free loan of EUR 200 million, the funds of which will be sent to the state budget to cover the costs of salaries for teachers of general secondary education institutions.

Source: Minister of Finance of Ukraine Serhiy Marchenko

As noted in the Ministry of Finance of Ukraine, the relevant credit agreement was signed by the Minister of Finance Serhiy Marchenko on August 5.

The loan is granted for 15 years with a grace period of 7.5 years.

“The Italian government was one of the first to support Ukraine after the start of the full-scale invasion. And today I am happy to sign a new loan agreement that will help the Ukrainian government maintain financial stability and continue to provide priority social spending,” Marchenko said.

He thanked for the strong support of Ukraine in a difficult period.

“This once again demonstrates the strong friendship and reliable partnership between our countries.”

See also: Ukrainians in Italy will be able to exchange cash hryvnia for euros from June 21


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