Ukraine to receive $100 million loan from South Korea
Kyiv • UNN
The Minister of Finance of Ukraine signed a loan agreement with the Export-Import Bank of Korea for $100 million. The loan is for 20 years at 1% per annum with a grace period of 5 years.
Today, on October 2, Minister of Finance of Ukraine Sergii Marchenko signed a loan agreement with the Export-Import Bank of Korea to raise USD 100 million. This was stated by the Ministry of Finance of Ukraine, UNN reports.
Details
The Ministry of Finance emphasizes that the USD 100 million loan will be the first financial support to be provided to the State Budget of Ukraine by the Republic of Korea.
The loan is for a term of 20 years and bears an interest rate of 1.0% per annum. The grace period is 5 years from the date of signing the loan agreement.
I am grateful for the constructive cooperation, which has resulted in the mobilization 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 Ukraine's economic development and will contribute to further mutually beneficial cooperation between the countries
Recall
In the spring, Ukraine and South Korea signed a framework agreementthat will allow Ukraine to receive up to $2.1 billion in loans from the South Korean Fund for Economic Development and Cooperation to implement priority projects in 2024-2029.
