Ukraine will receive concessional financing from the Republic of Korea for the first time. Sergii Marchenko signed a loan agreement for USD 100 million

Today, on 2 October, Minister of Finance Sergii Marchenko signed a loan agreement with the Export-Import Bank of Korea to attract USD 100 million.

In April 2024, the Governments of Ukraine and the Republic of Korea signed an agreement enabling Ukraine to attract loans of up to USD 2.1 billion over the period 2024-2029.

The USD 100 million loan will be the first financial support provided by the Republic of Korea to the State Budget of Ukraine. 

The loan is for a 20-year term with an interest rate of 1.0% per annum. The grace period is 5 years from the date of signing the loan agreement.

“Despite the thousands of kilometres between Ukraine and the Republic of Korea, our partnership continues to strengthen. I am grateful for the constructive cooperation, which results in mobilisation of resources for the urgent budgetary needs of Ukraine. Further projects to be implemented within the framework of bilateral cooperation with the Korean side will be aimed at supporting the economic development of Ukraine and contribute to further partnership between the two countries,” said Minister of Finance of Ukraine Sergii Marchenko.