Ukra "Export Bank offers $100 million loan...Korea's First Financial Aid"

The Export-Import Bank of Korea has decided to provide $100 million (about 132.5 billion won) in loans to the Ukrainian government, Ukraine's Finance Ministry said.

Ukraine's Finance Minister Serhiy Marchenko said he signed a loan deal with the Export-Import Bank of Korea, which is the country's first financial aid to Ukraine's government budget.

The conditions are a 20-year maturity, a five-year grace period, and an interest rate of 1.0% per year.

At the 5th Ukraine Support Conference held in the U.S. in April, the Korean government said it would implement the $2.1 billion Foreign Economic Cooperation Fund (EDCF) to Ukraine in the mid- to long-term.

Ukraine, which has been at war with Russia for three years, is covering about 60% of the government's budget with foreign loans and grants.