Ukraine to receive preferential loan from South Korea for first time: agreement is signed
Ukraine has signed a loan agreement to raise $100 million from the Export-Import Bank of the Republic of Korea.
The agreement was signed by Finance Minister Serhii Marchenko, the press service of the Ministry of Finance reports.
The ministry noted that these funds will be the first financial support to come to Ukraine's state budget from South Korea.
The loan is for a period of 20 years, with an interest rate of 1% per annum. The preferential period is 5 years from the date of signing the loan agreement.
As reported, at the end of August, the Verkhovna Rada ratified a framework agreement between the government of Ukraine and the government of South Korea on loans from the Economic Development and Cooperation Fund for 2024-2029, which provides for loans from the Korean Economic Development and Cooperation Fund (EDCF ) for 2024-2029 totaling up to $2.1 billion.
