Italy allocates EUR 200 million soft loan to Ukraine

Ukraine received a 200 million euros soft loan from the Republic of Italy on August 15, the country's Ministry of Finance said in a statement.

Report informs, citing Ukrainian media, that according to the terms of the loan agreement, the funds are provided at a zero interest rate for 15 years (with the grace period of 7.5 years).

The funds received will be used to cover expenses for salaries of teaching staff of general secondary education institutions.

The loan agreement was signed on August 5 between Ukraine represented by the Minister of Finance of Ukraine as the borrower and the Government of the Italian Republic represented by the Minister of Economy and Finance of the Italian Republic as the creditor.