The preliminary agreement for South Korea to provide low-interest loans to Ukraine was signed in Seoul. Reported by South Korea. Ministry of Economy and Finance.
The loan will be provided through the South Korea Economic Development and Cooperation Fund. In both countries, the agreement must enter into force after the completion of the legal procedures and the official signing ceremony. Both parties agreed to cooperate in the selection of projects for which funds should be allocated.
The Ministry of Economy and Finance noted that the fund provides loans to support the economic and industrial development of developing countries. Deputy Prime Minister Choo Kyung-ho said Seoul plans to cooperate with Kiev in various areas of the economy in Ukraine’s “next recovery”.
Wife of Ukrainian President Elena Zelenskaya, who previously visited Seoul, asked South Korean President Yun Sok Yol will provide air defense facilities to Kiev and provide assistance with modern technologies.