Italy to provide Ukraine with interest-free loan of €200M

Italy is set to provide Ukraine with an interest-free loan of €200 million 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 directed to the state budget of Ukraine to finance the salaries of teachers of general secondary education institutions, as reported by the International Monetary Fund.

The loan is provided for 15 years (taking into account the grace period for deferring loan repayment for a period of 7.5 years). Interest will not be charged for using the loan.

The Cabinet of Ministers of Ukraine adopted the resolution for the loan through the International Monetary Fund’s administrative account.

The announcement comes at a time when Italy’s farmers have now also joined the mass European protests seen in the Netherlands, as reported on Friday, July 8.

The farmers protests seen in Italy as well as Poland, come after strikes in the Netherlands have led to many supermarkets running out of food, as the anti-government movement continues.

The farmers are protesting due to their outrage over new government regulations that will force them to reduce their nitrogen fertiliser compounds, leading to a reduced number of their livestock, ultimately causing bankruptcy in family-owned businesses.

Italy’s announcement of an interest-free loan for Ukraine comes on the same day the US government announced a further $1.7 billion (€1.69 billion) aid package for Ukraine to ‘pay the salaries of its beleaguered health care workers and provide other essential services.’

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