France to provide EUR 1.2B in program funding for Ukraine’s development – President’s Office

The French Republic will provide Ukraine with EUR 1.2 billion in program funding for certain development projects, according to the Ukrainian President’s Office.

"Today, the President of France announced a new program of financial cooperation with Ukraine. In addition to the already allocated macro-financial support of EUR 1.2 billion from the European Union, the French side provides another EUR 1.2 billion of program funding," Deputy Head of the Ukrainian President’s Office Rostyslav Shurma said.

In particular, according to the President’s Office deputy head, the French Ministry of Economy and Finance will provide the Government of Ukraine with a loan of EUR 200 million, as well as financial guarantees of EUR 1 billion. Under these guarantees, Ukraine will be able to obtain loans from French banks on favorable terms.

According to Shurma, these funds will be used for certain development projects agreed with the French side.

In addition, the sides signed documents on financing and supplying Alstom electric locomotives worth EUR 900 million, supplying fire and rescue equipment and manufacturing patrol boats for the Ukrainian Emergency Service, for which separate funding is provided, Shurma said.

As Ukrinform reported, French President Emmanuel Macron paid an official visit to Ukraine on Tuesday, February 8.

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