Government plans to take $50 mln loan from Turkey

Government plans to take $50 mln loan from Turkey

The Ukrainian Cabinet of Ministers has empowered Finance Minister Natalie Jaresko to sign an agreement with Turkey on a $50 million loan granting for a period of five years.

A relevant resolution was approved at a cabinet sitting on Thursday, an Ukrinform correspondent reports.

"Under the draft resolution the finance minister is empowered to carry out state foreign borrowing in 2016 by raising loans that do not exceed $50 million with a maturity of not more than five years with an annual rate not higher than 2.5%. The loan will be raised via concluding a credit agreement between the governments of Ukraine and Turkish Republic,” Finance Minister Natalie Jaresko said.

According to the minister, this loan would be a part of the financial support for Ukraine from the G20 countries.

Prime Minister Arseniy Yatsenyuk, in turn, said that the agreement could be signed on Monday during a visit of Turkish Prime Minister Ahmet Davutoglu to Ukraine.


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