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Korea to provide first loan for Ukraine's budget
Oct 3, 2024
On October 2, the Ministry of Finance signed a loan agreement with the Export-Import Bank of Korea to raise a $100 million loan.
This was reported by the press service of the Ministry.
The USD 100 million loan will be the first financial support to be provided to the State Budget of Ukraine by the Republic of Korea.
The loan is for a period of 20 years, with an interest rate of 1.0% per annum. The grace period is 5 years from the date of signing the loan agreement.
In April 2024, the Governments of Ukraine and the Republic of Korea signed an agreement that allows Ukraine to attract loans of up to USD 2.1 billion during 2024-2029.
“Further projects to be implemented within the framework of bilateral cooperation with the Korean side will be aimed at supporting Ukraine's economic development and will contribute to further mutually beneficial cooperation between the countries,” said Minister of Finance of Ukraine Sergii Marchenko.
Author - Dmitriy Levchenko, 03/10/2024
