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Ukraine to get 500 million euros from Germany

In January Ukraine and Germany will prepare a statement on an untied loan from Berlin to restore the infrastructure of Donbas and an agreement regarding government guarantees for the loan by Germany.

Ukraine to get 500 million euros from Germany

In January Ukraine and Germany will prepare a statement on an untied loan from Berlin to restore the infrastructure of Donbas and an agreement regarding government guarantees for the loan by Germany.

According to Hennadii Zubko, Minister of Regional Development, Construction and Housing and Communal Services, the agreement has been previously reached during the negotiations between Ukrainian President Petro Poroshenko and German Chancellor Angela Merkel.

"Pursuant to the agreements between President of Ukraine Petro Poroshenko and German Chancellor Angela Merkel, the Governments of Germany and Ukraine are taking measures for the preparation of a joint statement on allocating Ukraine a EUR500-million non-binding loan. These funds will be spent on the reconstruction and modernization of the electricity, heat, water supply and sewage infrastructure, the restoration and construction of schools and hospitals."

He also added that Donbas reconstruction projects will be agreed in the framework of the high-level bilateral group.

"All the necessary procedures for approving and acquiring the loan will be completed tentatively in January 2015," Zubko said.

Previously, it was reported that the national debt of Ukraine accounts for a figure with 12 zeros.