Ukraine to receive $1.5B loan from WB under Japanese guarantees
The Prime Minister of Ukraine, Denys Shmyhal, wrote about this on Telegram, Ukrinform reports.
"Ukraine will receive a USD 1.5 billion loan from the World Bank under the guarantee of the Government of Japan. The WB and the Ministry of Finance of Ukraine have just signed the corresponding agreement during our meeting with the Vice President of the World Bank, Antonella Bassani," the message reads.
According to Shmyhal, the funds are intended to strengthen social protection, aid people during Russia's war, and restore the economy.
"In general, the World Bank Group, together with its partners, mobilized USD 34 billion to help Ukraine. Of these, over USD 22 billion have already reached the budget. We are especially grateful for the largest investment project in the Bank's history, PEACE in Ukraine, which helps finance social benefits and pensions. We appreciate our close cooperation, and we count on further joint projects for the recovery and development of Ukraine," Shmyhal emphasized.
As Ukrinform reported, World Bank Vice President for Europe and Central Asia Antonella Bassani and IFC Vice President for Europe, Latin America and the Caribbean Alfonso Garcia Mora arrived in Kyiv as part of their first official visit to Ukraine.
