Ukraine will be able to receive the first tranche in a few months.
In South Korea, a preliminary agreement on financing from the Economic Cooperation Development Fund of the Republic of Korea was signed.
TSN correspondent Yana Slesarchuk reports this.
The possibility of receiving the first tranche from EDCF in the amount of up to $300 million will appear already in 2023 within 3-4 months from the moment of signing the second stage of the transaction, expected in the month from today’s extremely important event.
The next tranche of up to $3 billion will become available in 2024 with a gradual increase in the limit to $8 billion as pipeline projects fill up. “Ukraine will also be able to use Korean capacities and experience for the post-war reconstruction of destroyed infrastructure, industrial and civil facilities,” Deputy Prime Minister Yulia Sviridenko said.
In particular, the funds will be involved in the long term at minimal interest: the loan term can be up to 40 years at 0.15% per annum with a 10-year delay in repayment of the loan body. The loans will be provided by the Export-Import Bank of Korea under the EDCF.
Recall that Yelena Zelenska asked for air defense from South Korea when she met with President Yun Seok Yol the day before, and had just opened the Asian leadership conference. “If there is a criminal in the house, humanitarian aid will not help. The killer must be stopped. In the case of Kherson, the missile defense systems that your country produces can help,” said First Lady of Ukraine Olena Zelenska.
At the same time, First Vice Prime Minister Yulia Sviridenko is here with officials from the Ministry of Economy development plan of Ukraine in negotiations with large Korean business. “We brought to them specific projects in agro-processing, the energy sector, the construction sector. To give a clear signal that Ukraine is already working and fighting on the military front, developing its own economy and making plans for the development of the state and sees a place there for Korean business,” adds Sviridenko.
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2023-05-18 10:46:15
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