Ukraine to receive €200 million interest-free loan from Italy

As the Ministry of Finance of Ukraine informs, the Government adopted on July 12 a resolution "On public external borrowings in 2022 by raising loan from the Government of the Italian Republic represented by the Minister of Economy and Finance of the Italian Republic" on raising a €200 million interest-free loan from Italy through the IMF's administrative account.

It is noted that the funds will be transferred to the state budget of Ukraine to finance the salaries of the teaching staff of general secondary education institutions.

It is also emphasized that the loan is granted for 15 years (taking into account the grace period of deferring loan repayment for a period of 7.5 years). Interest is not accrued for using the loan.

As reported, the actual state borrowings to the general fund of the state budget for January–June 2022 amounted to UAH 561.3 billion, or 133.5% of the planned for this period. In particular, UAH 211.6 billion was raised from external sources.

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