Ukraine Will Receive From Italy €200 Mln In Teachers’ Salaries

by Olha Povaliaieva
Tuesday, August 16, 2022
Ukraine Will Receive From Italy €200 Mln In Teachers’ Salaries

Italy approved a loan for Ukraine for 15 years

The cabinet of ministers of Ukraine decided to seek assistance from foreign investors. Therefore, the government has adopted a decree on the attraction of interest-free loans. It will be provided by Italy. Italy will allocate a tranche of €200 million. This amount is a loan for up to 15 years. Italy will grant Ukraine a grace period of 7.5 years.

The money will be sent to the state treasury of Ukraine to finance salaries. The press service of the Ьinistry of finance of Ukraine states that all funds will be spent on the remuneration of teachers of general secondary education. It is also known that interest on the use of the loan will not be charged.

On August 5, a loan agreement was signed.

"The Italian government was one of the first to support Ukraine after the start of a full-scale invasion. I am pleased to sign a new loan agreement that will help the Ukrainian government maintain financial stability and continue to provide priority social spending. I am grateful for the significant support of Ukraine during the difficult period for us, it once again demonstrates strong friendship and reliable partnership between our countries," said finance minister Serhii Marchenko.

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