Ukrainian to take up to $2.1 bln loan from South Korea's fund, 100 mln euros from CoE Development Bank

MOSCOW. June 4 (Interfax) - The Ukrainian government has approved taking up to $2.1-billion loan from South Korea's Economic Development Cooperation Fund and a 100-million-euro loan from the Council of Europe Development Bank, Ukrainian Prime Minister Denis Shmygal said, as quoted by the Ukrainian media.

"Today, we approve and submit a bill ratifying the intergovernmental agreement between Ukraine and South Korea to the parliament. South Korea's Economic Development Cooperation Fund will be able to provide Ukraine with an up to $2.1-billion loan," the media quoted Shmygal as saying at a government meeting on Tuesday.

The government also distributed funds from the International Bank for Reconstruction and Development under the Ukraine Agriculture Recovery Inclusive Support Emergency (ARISE) project, in particular, UAH 2.4 billion for credit guarantees to promote lending to small and medium-sized agricultural producers, as well as grants for small farms.

"We make another decision to take a 100-million-euro loan from the Council of Europe Development Bank. These are funds for implementing the HOME project. Compensation for destroyed property," Shmygal added.