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Shmyhal: the government made decisions to help attract up to 1.6bn dollars to Ukraine

The funds are planned to be received from the IBRD, IDA, and Japan.

Shmyhal: the government made decisions to help attract up to 1.6bn dollars to Ukraine
Denys Shmyhal
Photo: kmu.gov.ua

At the meeting on 7 May, the Cabinet of Ministers has approved a number of decisions that will help attract up to 1.6bn dollars to Ukraine.

This is stated on the website of the Ukrainian government.

"Today, Ukraine needs the support of international partners to finance expenses that have increased significantly during the war. We have had talks with the World Bank and agreed that its structures will provide support to state bodies and budgetary educational institutions by partially reimbursing state budget expenditures for the payment of wages," Denys Shmyhal, Head of the Cabinet of Ministers of Ukraine, said.

According to him, the government has approved projects to raise funds from the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA) totaling up to 1.5bn dollars.

And up to 100m dollars are planned to be received from Japan. The Cabinet of Ministers approved the relevant agreement with the government of the country. Ukraine will attract a loan from the Japan International Cooperation Agency.

"Under the agreement, the government will be able to attract up to 100m dollars (13bn Japanese yen), which will be used to ensure priority expenditures of the state budget," the press service of the Cabinet of Ministers of Ukraine added.

Today, the Cabinet of Ministers decided to form a delegation from Ukraine which will participate in negotiations with representatives of the International Bank for Reconstruction and Development to receive almost 1.5bn dollars.

These days, at an international donor conference in Poland the Ukrainian side managed to mobilize 6.5bn dollars for the rebuilding of our state.

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