Ukraine has received from Japan $ 331 million of credit funds for the development of the financial sector

Ukraine received the funds of the loan from Japan with a volume of 331 million. in the framework of joint with the world Bank project «the Second loan for development policies in the financial sector» (DPLFS II).

As reported in Thursday, March 24 on the website of the Ministry of Finance of Ukraine, the funds provided through the Japan international cooperation Agency and credited to the General Fund of the state budget.

The Finance Ministry stresses that the acquisition of Japanese loan has become possible through the implementation by our country of all conditions, DPL-II and conducting a series of structural reforms, including the introduction of electronic VAT administration, reforming the gas market, creation of effective mechanisms of cost control and budget revenues.

According to the Ministry, the loan will be directed at improving the efficiency and transparency of the public sector, deregulation and improvement of business environment and overall improvement of the investment climate. Also these funds will help to Finance the priority needs of the country, including social expenditures and key reforms.

The loan has a term of 20 years with 6-year grace period, the interest rate is set at «Libor + 0,05%», which is less than 1% per annum.

As reported, Ukraine and Japan ratified a loan agreement for our country’s second of the development policy loan to implement economic reforms in the amount of $ 300 million in early March. At the same time the Minister of Finance Natalia Jaresko said that after the ratification of the agreement will take effect in March and the receipt of funds is expected in April of this year.




Ukraine has received from Japan $ 331 million of credit funds for the development of the financial sector 24.03.2016

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Март 24th, 2016 by
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