Ukraine inks 200 million Euro loan deal with Italy to pay teachers' salaries

In the midst of the ongoing Russia-Ukraine war, Kyiv has recently inked a loan deal with the Italian government which has been signed by Serhiy Marchenko, the minister of finance for Ukraine. Italy has been offering Ukraine a preferential 200 million Euro interest-free loan, with the money going to the state budget to pay the salaries of general secondary education institutions’ teachers. According to the Ministry of Finance, the 15-year loan will be used to pay for Ukrainian teachers' wages from the state budget and would have no interest for the first seven and a half years.  

Taking to Facebook, the Ukrainian Finance Ministry's press service cited the statement of Marchenko, saying, “The Italian government was one of the first to support Ukraine after the start of the all-out invasion.” The finance minister added, “And today I am glad to sign a new loan agreement that will help the Ukrainian government to maintain financial stability and continue to ensure priority social expenditures". 

Previously, in July, the centre-right coalition in Italy declared that if it wins the upcoming, early parliamentary elections on September 25, Rome will keep supplying Kyiv with armaments. Giorgia Meloni, the leader of the right-wing opposition group "Brothers of Italy," reportedly made the claim during an interview with Rai 1 TV, according to K.AT News. Her remarks follow Mario Draghi's resignation as prime minister on Thursday, July 21. 

According to media reports, additionally, Meloni asserted that the conflict in Ukraine is only the "tip of the iceberg" in a far wider conflict aimed at upending the global order. 

Italy delivered a four-point peace proposal to end war in Ukraine

Apart from this, Italy also delivered a four-point peace proposal to United Nations Secretary-General Antonio Guterres earlier in May to end the current conflict in Ukraine. As per the first point, the peace plan allegedly asks for a halt to hostilities and the demilitarisation of the front lines. The fact that Ukraine would be a neutral state is the second point to take into account. The bilateral accord between Russia and Ukraine to determine the future of Crimea and the Donbas area is discussed in the third point. The fourth proposal asks for a multilateral peace deal between the European Union (EU) and Russia, which would require both the gradual withdrawal of the Russian military from Ukraine and the removal of Western sanctions on Russia. 

Meanwhile, in the month of June, to put Russian President Vladimir Putin under pressure to open the Ukrainian ports, enable safe passage for the grain, and reach a peace agreement in Ukraine, Italian leader Mario Draghi pressed for more penalties against the Russian Federation. At the conclusion of the G7 meeting, Draghi stated in Elmau, "This G7 was truly a success, our countries reaffirmed full and great cohesion, great unity of views in particular regarding the war in Ukraine and its consequences," as per media reports. 

(Image: AP)