On Mar 17, Ukrainian and German Governments will agree conditions of EUR500 million loan allocation

17.03.2015 12:40 "Agro Perspectiva" (Kyiv) — On Tue, Mar 17, a German working group arrives to Ukraine to finally agree the text of the memorandum and a framework agreement to obtain credit worth ˆ500 million, due to be signed in early Apr, Government Portal says referring to the Ukrainian Vice Prime Minister, Minister of Regional Development, Construction, Housing and Utilities of Ukraine Hennadiy Zubko, who is staying in Germany within the framework of an official visit of the Ukrainian President Petro Poroshenko. As to Zubko, the working group will consist of representatives of the German federal ministries of economic affairs and transport. «A meeting with German Chancellor Angela Merkel was focused on the discussion of the issue to attract a KFW Bank loan in order to restore the eastern part of Ukraine as well as directions to apply these funds. It goes about the macro-financial support of the Ukrainian State budget, support of small and medium-sized business as well as projects in energy and infrastructure rehabilitation,» Zubko said. Zubko admits this money will bring a tremendous positive effect on the economy of the whole country, thus providing an opportunity to create new jobs, new businesses, launch important infrastructure projects. As to the earlier report, Hennadiy Zubko is the Chairman of the Ukrainian part of the Ukrainian-German high-level group on economic cooperation.

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