World Bank approves €190 mln loan to Ukraine

Ukraine received EUR 189.32 million in financing from the World Bank. Funds were provided on preferential terms from the International Development Association (IDA).

The press service of the Ministry of Finance of Ukraine reported this.

It is noted that the general fund of the state budget of Ukraine received 189.32 million euros of funding from the World Bank.

"The raised funds will make it possible to reimburse the priority social expenditures of the state budget, in particular, to finance the wages of public sector employees, as well as to ensure stable state administration in Ukraine further," the Minister of Finance of Ukraine, Serhii Marchenko, said.

The funds will be directed to the partial reimbursement of budget expenditures made to ensure the payment of wages to employees of state bodies and teaching staff for February 2023.

The loan was granted within the framework of the agreement on financing the project "Supporting public expenditures to ensure sustainable public administration in Ukraine" between Ukraine and the International Development Association (IDA). The repayment period is 10 years with a 4-year grace period.

For reference:

As reported, foreign partners provided Ukraine with UAH 495 billion in 2022 to support priority expenditures through the World Bank Trust Fund (PEACE).