Ukraine will receive a $500 million loan from the World Bank guaranteed by the UK
Date: 2022-12-24 Author: Кирило Загоруйко Categories: WORLD'S HELP
Ukraine will receive a $500 million loan from the World Bank guaranteed by the UK.
As reported on the website of the Ministry of Finance of Ukraine, Finance Minister Serhiy Marchenko and World Bank Regional Director for Eastern Europe (Ukraine, Belarus and Moldova) Arup Banerjee signed an Agreement on providing Ukraine with the fourth additional financing as part of the implementation of a joint project with the International Bank for Reconstruction and Development (IBRD). ), International Development Association (IDA) project "Public Expenditure Support for Sustainable Public Administration in Ukraine". The loan amount is $500 million.
"Credit funds will be provided on preferential terms under the guarantees of the UK: the loan repayment period is 18.5 years with a five-year grace period. The interest rate is 0.25% per annum," the Ministry of Finance informs.
The funds raised will be used to reimburse the state budget for the payment of social assistance to families with children, salaries to employees of state institutions of higher education, as well as utilities.
The Ministry of Finance notes that in 2022 the UK government provided Ukraine with more than $1.5 billion to finance the state budget of Ukraine.
