Ukraine will receive $500M in aid from Great Britain in the form of a loan

The Ministry of Finance of Ukraine noted on December 23, 2022, that Britain would provide Ukraine with $500 million, the funds would be directed to reimbursement of state budget expenditures for social assistance payments to families with children, salaries for employees of state institutions of higher education, and communal services.

Source: The Ministry of Finance of Ukraine

It is noted that Ukraine will receive a $500 million loan from Great Britain as part of a joint project with the International Bank for Reconstruction and Development and the International Development Association.

“Great Britain is one of the leaders in supporting Ukraine in the fight against the Russian troops. Thanks to such reliable partners, we have the opportunity to continue to ensure proper financing of priority expenses. I am grateful to the Government of Great Britain, as well as the World Bank team, for their unwavering support for Ukraine. We hope for fruitful cooperation next year as well, which will help us achieve victory as soon as possible”, Serhii Marchenko, the Minister of Finance of Ukraine said during the signing.

The agreement was signed on December 23, 2022, by the Minister of Finance of Ukraine Serhii Marchenko and Arup Banerji, the World Bank Regional Country Director for Eastern Europe,

Loan funds will be provided on preferential terms under UK guarantees: the loan repayment period is 18.5 years with a five-year grace period. The interest rate is 0.25% per annum.

See also: Britain provided Ukraine with 900 generators and 15,000 sets of winter kits for the military

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