Ukraine will receive a grant of 50 million euros from the Germans to refinance the program "affordable loans 5-7-9%" – Ministry of Finance

The German reconstruction credit institution (KfW) will provide Ukraine with a loan of EUR 50 million. The funds will be used to refinance the Affordable Loans 5-7-9% Program, which will allow reimbursement of the costs of compensation of interest rates on loans for small and medium-sized businesses of Ukraine. The agreement was announced by the press service of the Ministry of Finance, UNN reported.

"The work of enterprises is an important component of of Ukraine's financial stability and economic security in times of war. 50 million of KfW grant funds will be a significant contribution to improving existing financial support programs for businesses. The funds will be used to refinance the costs of the program "Affordable Loans 5-7-9%", which will allow us to continue to provide small and medium-sized businesses with access to preferential lending."

Details

The Minister of Finance thanked the German Minister of Finance thanked German officials for their cooperation and systematic support of Ukraine.

The event was attended by representatives of KfW and the leadership of the Ukrainian Ministry of Finance, the event was also attended by the head of the Federal Ministry for Economic Development and Cooperation (BMZ) Ulrike Hopp-Nishanka and the Executive Director of the Entrepreneurship Development Fund (EDF) Andriy Gapon.

Sergiy Marchenko noted that the FRP is currently a key institution for affordable financing for Ukrainian business, aimed at restoring and developing entrepreneurship under martial law.

Last year, KfW provided 150 million euros for the 5-7-9 program for the 5-7-9 program, and now we are pleased to expand our support by an additional 50 million euros. These funds are an important part of German-Ukrainian development cooperation. development cooperation, the total amount of which in 2023 alone amounted to more than 600 million euros.

At the meeting, the parties discussed the mechanisms of implementation of the Ukraine Facility program, bilateral cooperation between the Governments of Ukraine and Germany within the framework of the projects of the German Society for International Cooperation (GIZ) and further joint steps to prepare an intergovernmental Framework Agreement on Financial Cooperation.Both sides also emphasized the importance of the importance of developing and implementing mechanisms to implement these projects. The Ukrainians for their part, assured that our government is maximally interested in transparency in the receipt and realization of funds from partners.