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 Germany to allocate EUR 136 mln in aid and grants to Ukraine

Economic Development and Trade Minister of Ukraine Aivaras Abromavicius and Head of the Directorate of the Federal Ministry for Economic Cooperation and Development of Germany Andreas Gies signed the corresponding documents in Kyiv on Wednesday.

This is reported by Censor.NET citing Interfax-Ukraine.

According to the agreements, Germany will provide EUR 136 million in loans and grants to Ukraine to implement over 20 projects.

"The directions of their use is from rather large projects on construction of housing for internally displaced persons (IDPs) to very concrete and specific programs aimed at repairing schools, for example," Deputy Economic Development and Trade Minister of Ukraine Maksym Nefyodov told reporters after the signing ceremony.

He said that EUR 88 million will be provided as a loan, and EUR 48 million will be provided as technical assistance.

Read more: Ukraine has good preconditions for further positive development, Merkel says to German investors. VIDEO (in Ukrainian)

The funds will mostly be allocated through KfW development bank.

Nefyodov said that the credit rate will depend on each project, but will be seven or eight times lower than commercial rates.

He said that the funds will be allocated to both current projects and new ones, including projects to develop democracy, support economic growth and the energy independence of the country, and develop the social sector. Some of the funds will be allocated to operational needs, particularly, for aid if acts of God occur.
Источник: https://en.censor.net.ua/n359189