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KIEV, April 1. /TASS/. Germany will allocate €500 million to Ukraine for restoring the country’s east, Ukraine’s Infrastructure Ministry press service said on Wednesday.
The funds will be transferred to Ukraine in the framework of an agreement signed today between the Kiev government and German bank KfW on individual loans.
Kiev will use the funds for "restoring and modernizing the eastern part of Ukraine."
Ukraine must pay back the loan over the next 15 years, with the grace period of 5 years, the press service said. The infrastructure ministry also noted that KfW may allocate additional funds to Ukraine in June this year.