: :inin Kyiv (EET)

Ukraine to raise EUR 500 mln loan to rebuild Donbas

Ukraine and Germany in January 2015 will prepare a joint statement on an untied loan from Germany to rebuild infrastructure in Donbas.
Ukrainian Deputy Prime Minister and Minister for Regional Development, Construction, Housing and Utilities Hennadiy Zubko said this on Friday, the press service of the ministry told Ukrinform.
“Pursuant to the agreements reached by Ukrainian President Petro Poroshenko and German Chancellor Angela Merkel, the governments of Germany and Ukraine are taking measures to prepare a joint statement on issuing Ukraine an untied financial loan worth EUR 500 million. All of the necessary procedures for the approval and receipt of the loan will be completed in January 2015,” he said.
These funds will be spent on the rebuilding and modernization of the power, heat, water supply and sewage infrastructure, and on the restoration and construction of schools and hospitals.
He said that the loan would be extended by banking group KfW Bankengruppe, with which the Ukrainian Regional Development Ministry is holding joint preparatory work.

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