The Verkhovna Rada ratified the agreement for the launch of the Finnish-Ukrainian Investment Fund
The Verkhovna Rada ratified the Framework Agreement with the Government of Finland regarding the financing of projects through the Finnish-Ukrainian Investment Fund. The corresponding draft law No. 0299 was adopted as a whole, it was supported by 253 people’s deputies, informs website of the parliament.
The press service of the Ministry of Finance noted that the ratification of this agreement opens up the possibility of attracting funding from the Finnish government within the framework of the Finnish-Ukrainian Investment Fund (FIF) program.
“The FUIF program provides for the provision of preferential loans for financing projects aimed at the socio-economic development of Ukraine. The preferential conditions for granting loans provide for a FUIF grant component of at least 35%.” – the ministry informed.
Grants will be used for loan servicing, in particular for the full coverage of interest payments by the Finnish side, as well as partial repayment of the loan principal, which will be determined for each project separately. Credit funds will be provided under a 100% guarantee of the Export Credit Agency of Finland “FinnveraPlc”.
