An intergovernmental agreement on loans from the Economic Development and Cooperation Fund (EDCF) was signed between the two countries in the presence of President Volodymyr Zelenskyy and the Korean Minister of Infrastructure and Transport Won Hee-ryong.
In particular, Ukraine, or a business entity that has received a state guarantee, has the right to attract long-term loans at low-interest rates from the Export-Import Bank of Korea through the EDCF. In the first stage, such loans can be used for equipment acquisition, but from 2025 infrastructure loans will become available for the reconstruction of Ukraine. This was announced by Korean President Yoon Suk-yeol during the G20 summit, announcing the provision of $2B to Ukraine for reconstruction in the form of loans through the EDCF.
“The loans will contribute to the restoration of production potential and the creation of new jobs. Ukraine will benefit from the Korean experience for post-war reconstruction“, said Minister of Economy Yulia Svyridenko.