Switzerland grants $200 million loan to the National Bank of Ukraine
The National Bank of Ukraine signed a loan agreement with the Swiss National Bank. In an official statement, the National Bank of Ukraine said, “The agreement finalizes the agreement made between the President of Ukraine, Petro Poroshenko, and the President of Switzerland, Johann Schneider-Ammann, on an increase of humanitarian and financial assistance to Ukraine from Switzerland.”
According to the report, the purpose of the loan agreement between the National Banks of Switzerland and Ukraine is to complement the funding received by the International Monetary Fund to contribute to the stabilization of the financial system in Ukraine.
“The agreement provides for the granting of a $200 million loan to Ukraine. These funds will be released in several installments and will be aimed at the replenishment of the international reserves of the country,” the regulator reported.
“This agreement to provide financial assistance to Ukraine from the international community is indisputable evidence of the trust and support of the reforms being implemented in our country,” the Chairman of the National Bank of Ukraine, Valeriya Hontareva, noted. The agreement came into effect April 6th, 2016.