With the first so-called “Aid” decree, converted into law on July 15, 2022, an allocation was made for financial support in favor of Ukraine.
In implementation of this rule, today 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.
This is a parallel loan to the World Bank program called PEACE (Public Expenditure for Administrative Capacity Endurance in Ukraine), which aims to guarantee the administrative continuity and essential services of the Ukrainian state. The loan, which will be managed by Cassa Depositi e Prestiti, will be subject to the same monitoring, audit and control standards as the PEACE program and will be subject to subsequent reporting to Parliament.
The terms of the loan, which do not include interest charges, are consistent with the moratorium announced on 20 July by the other finance ministries of the G7 countries.