Ukraine takes out €150m loan from German development bank

Ukraine will receive another loan of 150 million euros (158 million U.S. dollars) from Germany’s state development bank KfW, the government in Kiev announced.

The money would  be used to support citizens and rebuild infrastructure, Ukrainian Prime Minister Denys Shmygal said in a statement on the government’s official website

He said the resource would be promptly used to support our citizens and rebuild critical infrastructure.

Ukraine previously received 150 million euros from the KfW in early April as the final tranche of a 2015 loan from the German government totaling 500 million euros.

The new loan had a term of 15 years and repayments did  not have to start until after five years, Shmygal said.