The National Bank of Ukraine has entered into a bilateral loan agreement with the Swiss National Bank. The loan agreement is the result of agreements reached between Ukraine's President Mr Petro Poroshenko and President of the Swiss Confederation Mr Johann Schneider-Ammann to increase humanitarian and financial assistance to Ukraine.
The loan agreement between the central banks of Ukraine and Switzerland aims to complement financial assistance provided to Ukraine under the IMF's Extended Fund Facility Arrangement, which would help stabilize the financial system of Ukraine.
A total of USD 200 million worth of loan shall be disbursed to Ukraine in several installments under the loan agreement. These funds will be used to replenish Ukraine’s international reserves.
“The signing of this agreement paves the way for additional financial assistance to Ukraine from the international community and is seen as clear evidence of trust and strong support for reforms implemented in our country,” said NBU Governor Ms Valeria Gontareva.
The agreement entered into force on 6 April 2016.