Ukraine receives second tranche of over US$200 million from World Bank
ANASTASIIA ZHARYKOVA – FRIDAY, 17 FEBRUARY 2023, 19:26
On Friday, 17 February, the state budget of Ukraine received the second allocation of additional financing worth US$203 million from the World Bank under the UK's guarantee.
Source: the press service of the Ukrainian Ministry of Finance
The total amount of the loan guaranteed by the UK is US$500 million. The funds have been provided on preferential terms through the World Bank mechanism as a guarantee from the UK under the Agreement on providing Ukraine with the fourth additional funding under the joint project with the International Bank for Reconstruction and Development (IBRD) and the International Development Association’s (IDA) Support to Public Expenditures for Sustainable Public Administration in Ukraine project.
The loan has a maturity of 18.5 years with a 5-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 to employees of state higher education institutions.
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