The press service of the Ministry of Finance of Ukraine noted on February 17, 2023, that Ukraine received the second part of additional financing in the amount of 203 million dollars from Great Britain through the World Bank project.
Source: The press service of the Ministry of Finance of Ukraine
“Today, the state budget of Ukraine received the second part of additional financing in the amount of 203 million US dollars from the World Bank. The total volume of the loan under the guarantees of Great Britain is 500 million US dollars,” informed the press service of the Ministry of Finance of Ukraine.
The funds were provided on preferential terms through the mechanism of the World Bank as a guarantee from Great Britain under the Agreement on providing Ukraine with the fourth additional financing of the project “Supporting public expenditures to ensure sustainable public administration in Ukraine.” The project is implemented jointly with the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA).
The loan repayment period is 18.5 years with a five-year grace period. The interest rate is 0.25% per annum.
“The funds will be used to reimburse state budget expenditures for social assistance payments to families with children and salaries for employees of state institutions of higher education,” added the press service of the Ministry of Finance of Ukraine.
See also: Ukraine and Britain signed Declaration of Unity
