15 Dec 2023 12:02

Germany allocates 50 mln euros for Ukraine via KfW

MOSCOW. Dec 15 (Interfax) - German state development bank KfW has provided Ukraine with 50 million euros on a non-refundable basis to refinance costs as part of the Affordable Loans at 5%-7%-9% state program, Ukrainian media said, citing the Finance Ministry.

"The financial assistance from KfW allows us to maintain Ukrainian businesses' access to affordable financing, which, in turn, will contribute to their development, the creation of new jobs and the growth of the country's economy in conditions of a crisis," Finance Minister Sergei Marchenko said.

As reported, Marchenko and KfW on November 30 signed a grant agreement, providing 50 million euros to compensate for the interest rate on the loans for Ukrainian small and medium-sized enterprises under the Affordable Loans at 5%-7%-9% program.