Ukrainian PM confirms $100 million loan from South Korea

Seoul(The Uttam Hindu): Ukrainian Prime Minister Denys Shmyhal confirmed that Ukraine has received a US$100 million loan from South Korea aimed at supporting the social sector.

In a post on social media X, Shmyhal said the loan is "the first budget assistance" from South Korea to support the social sector, Yonhap news agency reported.

He said Ukraine also signed an agreement with South Korea granting access to up to $2.1 billion in funding earlier this year.

"I am grateful to the Government of the Republic of Korea for supporting Ukraine during a full-scale war," Shmyhal wrote, referring to South Korea's official name.

In April, South Korea signed a framework agreement with Ukraine to provide the war-torn country with $2.1 billion in long-term, low-interest loans through the Economic Development Cooperation Fund.