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Ukraine to receive $1.5 bn loan from World Bank

The deal is guaranteed by the governments of Japan and the United Kingdom. 

Ukraine to receive $1.5 bn loan from World Bank
Photo: ABS-CBN News

The Cabinet of Ministers of Ukraine has announced that it has reached an agreement on a $1.5 billion loan from the World Bank. The funds will be transferred to the state budget accounts by the end of March.

The agreement is guaranteed by Japan and the United Kingdom: in addition, the Japanese government will provide funds for interest capitalisation in the amount of $99.5 million to reduce the cost of servicing loan obligations. 

The money was provided to Ukraine as part of the Growth Fundamentals development policy. According to Deputy Minister of Finance Olha Zykova, our country has taken all the measures to implement the reforms envisaged by the programme, which are aimed at accelerating European integration and promoting economic growth. 

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