Ukraine receives USD 500 million from World Bank

Ukraine received the funds of the First Loan for development policy in the financial sector to the amount of USD 500 million within the frames of the agreement with the International Bank for Reconstruction and Development, signed August 8, 2014.
The Finance Ministry informs on Monday.
“A loan will be sent to support priority measures for reformation of the banking sector and implementation of a complex program of the anti-crisis management in the financial sector of Ukraine, in particular: strengthening of the operational, financial and regulatory potential of the Deposit Guarantee Fund; improving solvency of the banking system; strengthening the legal and institutional framework to improve the stability and efficiency of the banking system in the long-term perspective,” the press service of the department said.
The loan was involved for 16 years with a seven year grace period at variable interest rate (at the date of signing – 0.63%), one-time fee – 0.25%.

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