(Finance) – With the first so-called “Aid” decree, converted into law on July 15, 2022, a allocation for financial support to Ukraine.
In implementation of this normtoday the Minister of Economy and Finance Daniele Franco and the Ukrainian Minister of Finance Serhiy Marchenko finalized the financing agreement. The resources (200 million euros) are earmarked for the payment of the salaries of Ukrainian school staff.
It is a financing parallel to the program of Bank World named PEACE (Public Expenditure for Administrative Capacity Endurance in Ukraine), which aims to ensure administrative continuity and essential services of the Ukrainian state. The loan, which will be managed by Cassa Depositi e Prestitiwill be subject to the same monitoring, audit and control standards as the PEACE program and will be subsequently reported to Parliament.
The conditions of the loanwhich do not provide for interest charges, are consistent with the moratorium announced on 20 July by the other finance ministries of the G7 countries.