Press Release from 2022-05-24 / Group, KfW Development Bank
KfW signs additional loan agreement worth EUR 150 million in support of Ukraine under the Economic Emergency Assistance Programm
- Rapid, direct support
- Maintenance of state social spending, pension payments and expenditure for the health and education sectors
On behalf of the German Federal Government, KfW today signed a loan agreement amounting to EUR 150 million with the Ukrainian Ministry of Finance. The “Ukraine Economic Emergency Assistance Programme” is intended to provide liquidity to the Ukrainian government so that it may maintain its state social spending, pensions and expenditure in health and education, including salaries for school and hospital staff and the procurement of medicine in the current crisis.
"The funds made available under the Economic Emergency Aid Programme represent direct and rapid support for the Ukrainian government in mitigating the economic and social consequences of the Russian attack on Ukraine, which is in violation of international law. We are helping to prevent a drastic deterioration of the supply situation for wide swathes of the population and, at the minimum, can partially cushion the socio-economic effects through this," states Christiane Laibach, Member of the Executive Board of KfW Group.
The loan is another untied finance credit issued to Ukraine by the German Federal Government.