On Monday, December 22, Prime Minister of Ukraine Arseniy Yatsenyuk met with Vice-President of the European Investment Bank László Baranyay.
During the meeting the Prime Minister of Ukraine and László Baranyay signed financial agreements:the Apex Loan for SMEs & Mid-Caps (Ukraine) project and the Ukraine Early Recovery project.
Arseniy Yatsenyuk said that the signing of these agreements is for Ukraine "a signal of support forthe Ukrainian economy from the European Union, as the European Investment Bank is a financial institution of the EU."
The Prime Minister of Ukraine said that the signed loan agreements aimed at "developing the economy, not the return of old debts taken by the previous governments.
During the current year, according to Arseniy Yatsenyuk, the Government of Ukraine managed tokeep the amount of external debt of the Ukrainian state to foreign creditors at the level of $72 billion, "We didn’t increase external debt, not a bit. By the end of the year the picture will probably change, but for nowwe are keeping a balance by all possible means and measures that we possess."
He said that Ukraine received EUR400 million under the Apex Loan for SMEs & Mid-Caps (Ukraine) project, "which can allow to finance small and medium-sized businesses through Ukrainian banks." Theloan’s term is ten years.
"The European Investment Bank provided Ukraine with the most preferential terms. The currentEuribor interest rate is only 1.5% per annum. Such a loan at such a low rate none of the private investorsof Ukraine would give under no circumstances," the Prime Minister of Ukraine said.
The total amount of such loan is Eur 200 million for 20 years.