Ukrainian Finance Ministry, German KfW Bank sign loan agreement worth EUR 200 mln

Baku, September 4, AZERTAC 

Ukraine and the Germany`s KfW Development Bank have signed the financing agreement on the loan worth EUR 200 million to support the Individuals` Deposit Guarantee Fund, according to the ukrinform.

The signing ceremony was attended by Finance Minister of Ukraine Natalie Jaresko, German Ambassador to the country Christoph Weil, and member of the Management Committee at KfW Roland Siller.

According to the Ukraine`s Finance Minister, the loan agreement will allow millions of Ukrainians to access their deposits in the insolvent banks to the amount guaranteed by the state.

"The agreement will give an opportunity to millions of ordinary citizens to receive their deposits from troubled banks within the state guaranteed limit and will also contribute to the recovery of the banking system of our country," Jaresko said.

The Finance Ministry said that the credit rate is less than 2.6% per annum.

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