Ukraine Will Receive EUR 150 Million From KfW to Finance Social Expenditures

On May 24, Ukrainian Finance Minister Sergii Marchenko and KfW Director for Eastern Europe, Caucasus, and Central Asia Olaf Tsymelko signed an agreement with the KfW Reconstruction Credit Institution to provide Ukraine with EUR 150 million in budget support.

The loan is provided as a co-financing of the International Bank for Reconstruction and Development's Additional Financing for Economic Recovery Development Policy Loan.

"The attracted funds will ensure stable financing of priority areas and will be used for social expenditures and expenditures in the sphere of education and healthcare," Sergii Marchenko said during the signing.

Under the terms of the Agreement, the loan is provided for 15 years.

On April 25, 2022, within the framework of state programs for support of small and medium businesses, the state budget received a credit from KfW in the amount of EUR 150 million.