Ukraine has signed with Germany a loan agreement for 200 million euros
The head of the Ukrainian Ministry of Finance on one side and a Board member of the German state Bank KfW signed an agreement under which Kiev will be given a loan of 200 million euros.
The signing ceremony, which was attended by the Minister of Finance of Ukraine Natalie Jaresko and member of the management Department of the state Bank KfW Roland Siller, took place on Thursday.
Borrowed funds, upon written request of the Ukrainian side, will be spent for the support of the Fund for guaranteeing deposits of natural persons, passes RIA " Novosti ". After signing the contract, Jaresko said that the loan will enable million Ukrainians to obtain greater access to their deposits in insolvent banks within the amount guaranteed by the state. According to the head of the Ministry of Finance of Ukraine, due to economic decline in the country At any given time there are about fifty of bankrupt banks, which created a serious strain on the state Fund for guaranteeing deposits of natural persons responsible for the payment of deposits to depositors. In total, in the composition of the list of measures of financial support Germany promised to provide Ukraine with five hundred million Euro, and the current contract ? part of this consensus. The interest rate on German loan may reach 4 to 5% depending on conditions of repayment, the grace period is 5 years and the total period for which the loan is issued, or fifteen years. Natalie Jaresko said that the remaining funds, the allocation of which Ukraine agreed with Germany, will be available in three tranches ? in the energy, infrastructure and the purchase of items for the development of these 2 areas. Commissioner of the German state Bank KfW Rolland the Siller, for his part, said that the German side is awaiting signature by Ukraine of the agreement on the allocation of the greater part of the pledged funds (210-220 million euros) this year. Remember that Kiev had reached agreement with creditors to write off 3, $ 6 billion bond debt totaling approximately $ 18 billion. Against this background, the international rating Agency Fitch downgraded the long-term chart Issuer default ratings of Ukraine to the level of " default inevitable." While Kiev has asked the Russian Federation " to accept the rules of writing off other creditors ". Also, the Ukrainian side said that the Russian Federation in case of disagreement with the terms of the debt restructuring of Ukraine may enter into individual dialogues. However, the Minister of Finance Anton Siluanov said that Moscow will not do it. The Russian Minister Also said that the $ 3 billion that Russia received from Ukraine, is expected to be spent on development of infrastructure. Kiev Also promised that the international creditors of Ukraine will receive additional payments from Kiev, if by 2020 the economy will grow more than the forecasts of the international monetary Fund. The US has urged lenders to begin without delay to perform the steps for restructuring the debts of Ukraine.
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