REUTERS
A working group from Germany is to arrive in Kyiv on Tuesday to finalize the text of a memorandum and framework agreement on providing Ukraine with loan funds of EUR 500 million, Ukrainian Deputy Prime Minister and Minister of Regional Development, Construction and Housing, and Communal Services Hennadiy Zubko has announced.
Zubko was in Germany as a part of the delegation during an official visit to the country by Ukrainian President Petro Poroshenko, the press service of the deputy prime minister reported.
According to Zubko, the working group includes representatives from Germany’s Ministry of Economy, and the Ministry of Energy and Transport.
"During a meeting with German Chancellor Angela Merkel, we discussed the issue of attracting loan funds from KFW Bank to reconstruct the eastern part of Ukraine, as well as the areas in which these funds would be used,” Zubko said.
“We [discussed] macro-financial support for the state budget of Ukraine, support for small and medium business projects in the energy sector. and infrastructure rehabilitation.”
Zubko said the funds will have a tremendous positive effect on the whole country’s economy, and will help create new jobs, new businesses and launch major infrastructure projects.
The signing of the memorandum and the framework agreement is scheduled for early April.
As stated in the report, Zubko is the chairman of the Ukrainian delegation of the Ukrainian-German high-level group on economic cooperation.