The German Credit Institution for Reconstruction (KfW) signed a €50 million grant with Ukraine for the refinancing of the "Affordable Credits 5-7-9%" program.
The press service of the Ministry of Finance writes about this.
This money should reimburse the costs of interest rate compensation on loans for Ukrainian small and medium-sized businesses.
Last year, KfW provided €150 million for the "Affordable loans 5-7-9%" program, and during 2023 — €600 million.
At the meeting, the Ukrainian and German sides discussed the mechanisms for implementing the Ukraine Facility program, bilateral cooperation between the governments of Ukraine and Germany within the framework of projects of the German Society for International Cooperation (GIZ), and further joint steps in the preparation of the intergovernmental Framework Agreement on Financial Cooperation.
- "Available loans 5-7-9%" is a program that gives small, medium and large businesses simplified access to bank lending. They can get loans at a reduced interest rate.