Poroshenko signs law on loan of JPY 10 billion

President Petro Poroshenko signed the law on a loan, adopted by the Verkhovna Rada, from the government of Japan at JPY 10 billion for support of economic reforms in Ukraine.
The press service of the head of state informed.
The law determines that a loan to the amount of JPY 10 billion is given by the Japanese agency of international cooperation as a co-funding of a systemic World Bank’s project “First Development Loan” to finance the state budget and to support the Ukrainian government on such directions: 1) ensuring proper governing, transparency and accountability in the state sector; 2) deregulation and reduction of expenses for business conduct; 3) reformation of the system of ineffective and unfair energy subsidies and improvement of protection of the population with scanty means.
As the press service noted, the loan will be attracted on the terms that are profitable for Ukraine: a repayment term – 20 years with a grace period of 6 years; the interest rate – 0.95%; payment period – three years since the date the loan term comes into force.
14.08.2014 16:56

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