Hungary loans EUR 50 mln to Ukraine for border equipment

Hungary loans EUR 50 mln to Ukraine for border equipmentUkraine is to get a loan in the amount of EUR 50 million from the Government of Hungary under the terms of tied aid for the implementation of arrangement projects of the Ukrainian-Hungarian border, UNIAN.

A framework agreement on raising funds was approved at a Cabinet meeting on Wednesday, November 23, and is to be signed today, November 24, during the visit of Ukrainian Prime Minister Volodymyr Groysman in Hungary, according to the Cabinet of Ministers of Ukraine.

"The agreement envisages the provision of soft loan to Ukraine to finance 100% of the cost of contracts for the supply of goods, works and services from Hungary to Ukraine for construction, overhaul, and repair of road sections of the Ukrainian-Hungarian border," a memorandum to the government decision says.

Earlier, Deputy Finance Minister Oksana Markarova said: "This is EUR 50 million at a zero rate for the period of 18.5 years, which will make it possible to have many things done that are needed on the common border."
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