REUTERS
Ukraine expects a positive decision by the European Investment Bank (EIB) to grant the country a EUR 400 million loan for the development of agricultural projects, Ukraine’s Agrarian Minister Oleksiy Pavlenko has said during a government press conference.
"We have developed a program for the use of funds - those cheap European loans, we were talking about and hoping for. We are going through the administrative procedures, and we expect that the first cheap European money may come into Ukraine the next year. The total amount of this tranche is EUR 400 million," said Pavlenko.
The minister did not specify the possible lending terms, as, according to him, they are the subject of negotiations.
Read alsoEIB to give Ukraine a EUR 400 mln loanAs UNIAN reported earlier, Ministry of Agrarian Policy and Food and the European Investment Bank (EIB) agreed on the financing of the Ukrainian agricultural sector in the next two years in the following areas: the development of production and processing, as well as the modernization of logistics.
The decision was enshrined in the Declaration of Intent between the Ministry of Agrarian Policy and the EIB, signed by EIB’s Director of the Department for Eastern Partnership and Central Asia Heinz Olbers and the Minister of Agrarian Policy and Food Oleksiy Pavlenko at the international Agro-2015 exhibition, which was held in Ukraine.