The Verkhovna Rada has endorsed the draft law as a whole, No.0039, on ratification of the financing agreement (project on main loan for small- and medium-sized enterprises and companies with mid-cap stocks) between Ukraine and the European Investment Bank. 260 MPs have supported the resolution out of a minimum number of 226 votes required for passing a decision, RBK-Ukraine (РБК-Украина) reports.
The law ratifies the agreement between Ukraine and the EIB, signed on December 24, 2014, in Kyiv, which provides for investment financing by ultimate beneficiaries owing to the loan from the European Investment Bank in the amount not exceeding 50% of the project value. The remaining 50% value of sub-projects will be financed, using the funds of participating banks or ultimate beneficiaries.
The explanatory note to the bill signed by Minister for Finance of Ukraine Natalia Yaresko says that the implementation of the bill does not require raising extra budget funds in 2015, but fulfilment of the financial agreement will have an impact on the budget highlights in the next fiscal periods.
