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RESOLUTION OF THE CABINET OF MINISTERS OF UKRAINE

of May 17, 2022 No. 595

About implementation of the state external borrowings in 2022 by attraction of the credit from Credit institute for recovery (KfW)

For the purpose of accomplishment of the Law of Ukraine "About the Government budget of Ukraine for 2022" in the conditions of martial law imposed by the Presidential decree of Ukraine of February 24, 2022 No. 64 "About introduction of warlike situation in Ukraine" the Cabinet of Ministers of Ukraine decides:

1. Perform the state external borrowings in 2022 by attraction of the credit from Credit institute for recovery (KfW).

2. Approve the Main conditions of implementation of the state external borrowings in 2022 by attraction of the credit from Credit institute for recovery (KfW) which are applied.

3. To the Ministry of Finance to provide in case of creation of the draft of the Government budget of Ukraine for the corresponding year of means for repayment and servicing of the state external borrowings performed according to this resolution.

Prime Minister of Ukraine

D. Shmygal

Approved by the Resolution of the Cabinet of Ministers of Ukraine of May 17, 2022 No. 595

The main conditions of implementation of the state external borrowings in 2022 by attraction of the credit from Credit institute for recovery (KfW)

1. The state external borrowings in 2022 are performed by attraction of the credit from Credit institute for recovery (KfW) for the total amount which is not exceeding 150 million euros (further - the credit), and are provided according to the Credit agreement between Ukraine on behalf of the Minister of Finance of Ukraine ("Borrower") and KfW, Frankfurt am Main ("KfW") (further - the Credit agreement) in the limits provided by the Law of Ukraine "About the Government budget of Ukraine for 2022".

2. The loan repayment period constitutes 15 years of date of agreement signature about the credit (taking into account grace period of deferred settlement of the credit for a period of five years from the date of agreement signature about the credit).

3. On credit amount percent on floating annual interest rate which consists of six-months rate of EURIBOR and margin which size will be determined in day of agreement signature about the credit, with possibility of change on the fixed annual interest rate after attraction of the credit are charged.

Interests are paid each six months on May 15 and on November 15.

4. The one-time commission on management of the credit constitutes 0,5 of percent of volume of credit; the commission for the obligation - annual interest rate 0,25 (it is charged on not chosen credit amounts, since tenth month after agreement signature about the credit).

5. Repayment and servicing of the credit are performed at the expense of the means provided by the law on the Government budget of Ukraine for the corresponding year.

 

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