Ukraine to receive €50 million grant from Germany for business loans

At a meeting on 24 November, the Cabinet of Ministers adopted a decision that will allow Ukraine to attract a grant from Germany worth almost UAH 2 billion (€50 million) to support the economy.

Source: Prime Minister Denys Shmyhal on the official government website

"These funds will help the government to continue to finance one of the most successful business support programmes - the 5-7-9 soft loan programme," Shmyhal said.

Shmyhal recalled that this week the EU provided Ukraine with another tranche of macro-financial assistance, worth €1.5 billion. The state budget also received US$400 million from the UK through the World Bank Trust Fund.

Shmyhal said the government would use these funds to cover social security payments, pensions, salaries for doctors and teachers, and critical needs.

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