Ukraine to Receive $50 Million Loan from Turkey

The Ukrainian Cabinet of Ministers approved a loan agreement from Turkey worth $50 million.  The approval comes ahead of Turkish Prime Minister Ahmet Davutoğlu's visit to Kiev on Monday. This was announced by the Minister of Finance, Natalia Jaresko, Interfax-Ukraine reports.

"The draft resolution will authorize the Minister of Finance to implement the government’s external borrowing in 2016 by attracting loans worth no more than $50 million with a maturity not later than five years and at a rate no higher than 2.5% per annum.  This loan will be formalized by the drawing up of the loan agreement between the governments of Ukraine and Turkey," the Minister of Finance said.

However, Jaresko stressed that this is just one step by the Ukrainian government in gaining support from "the big twenty" countries.  In turn, Ukrainian Prime Minister Arseniy Yatsenyuk noted that on Monday he will meet with Ahmet Davutoglu during the Turkish PM's visit to Kiev.  "On Monday we will sign [the loan agreement]", Yatsenyuk said.

As was reported earlier, Ukraine and Turkey have agreed to further cooperation in the defense sector.

  Ukraine, turkey, loan