Italy grants Ukraine an interest-free loan of 200 million euros Credit: UniqueEye/Shutterstock.com
Italy is set to grant Ukraine an interest-free loan of 200 million euros through the administrative account of the International Monetary Fund, as reported on Tuesday July 12.
Italy’s interest-free loan for Ukraine will see 200 million euros paid into the Ukrainian state budget to finance the salaries of teachers in general secondary schools, as reported by the International Monetary Fund.
The loan is granted for 15 years (taking into account the grace period to defer the repayment of the loan over a period of 7.5 years). No interest will be charged for the use of the loan.
The Cabinet of Ministers of Ukraine adopted the resolution for the loan through the administrative account of the International Monetary Fund.
The announcement comes at a time when Italian farmers have now also joined the mass European protests seen in the Netherlands, as reported on Friday July 8.
The protests by farmers seen in Italy as well as Poland come after strikes in the Netherlands led to many supermarkets running out of food, as the anti-government movement continues.
Farmers are protesting due to their outrage at new government regulations that will force them to reduce their nitrogen fertilizer compounds, leading to a reduction in their livestock numbers, ultimately causing family businesses to go bankrupt.
Italy’s announcement of an interest-free loan for Ukraine comes the same day the US government announced an additional $1.7 billion (1.69 billion euros) aid package for Ukraine in order to “pay the salaries of its beleaguered healthcare workers and provide other essential services”.
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