Ukraine to receive $1.5B loan from WB under Japanese guarantees

Ukraine to receive $1.5B loan from WB under Japanese guarantees

Ukrinform
Ukraine will receive a USD 1.5 billion loan from the World Bank under the guarantee of the Japanese government.

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.

Read also: South Korea to increase assistance to Ukraine to $150M

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.

Read also: World Bank to help assess damages caused by blowing up of Kakhovka HPP

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.

While citing and using any materials on the Internet, links to the website ukrinform.net not lower than the first paragraph are mandatory. In addition, citing the translated materials of foreign media outlets is possible only if there is a link to the website ukrinform.net and the website of a foreign media outlet. Materials marked as "Advertisement" or with a disclaimer reading "The material has been posted in accordance with Part 3 of Article 9 of the Law of Ukraine "On Advertising" No. 270/96-VR of July 3, 1996 and the Law of Ukraine "On the Media" No. 2849-Х of March 31, 2023 and on the basis of an agreement/invoice.

© 2015-2024 Ukrinform. All rights reserved.

Extended searchHide extended search
By period:
-