17:37 GMT07 August 2020
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    Crisis in Ukraine (116)

    The deal was signed on behalf of Ukraine by its Finance Minister Natalie Jaresko, while Germany was represented by management committee member Roland Siller.

    MOSCOW (Sputnik) — Ukrainian authorities and Germany's government-owned KfW development bank have signed a deal on a 200 million euro ($224 million at the current exchange rates) loan for Kiev, a RIA Novosti correspondent reported Thursday.

    Ukraine's economy has deteriorated since an armed conflict between Kiev forces and militia in the country's southeast broke out in April 2014.

    Ukraine, whose national debt exceeds $70 billion, increasingly relies on external financial assistance to maintain its crumbling infrastructure.

    In spring 2014, the International Monetary Fund (IMF) promised Kiev $17 billion in bailout loans, to be paid out over the course of two years. In addition, several Western countries allocated funds to Ukraine to help the country rebuild its economy and enact necessary structural reforms.

    Crisis in Ukraine (116)


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