Ukraine receives about $9B of concessional financing from partners in March – Finance Ministry

Ukraine receives about $9B of concessional financing from partners in March – Finance Ministry

In March 2024, the general fund of the state budget of Ukraine received about USD 9 billion of external financing.

According to the Ministry of Finance, the donors include EU – USD 4.9 billion (concessional financing); Canada – USD 1.5 billion (concessional financing); Japan – USD 1.1 billion (concessional financing); IMF – USD 880 million (concessional financing); UK – USD 515 million (concessional financing).

The EU funds are the first tranche under the new Instrument Ukraine Facility. They are also part of the Bridge financing, which totals EUR 6 billion. The Bridge financing mechanism allows to meet the urgent budget needs until the final approval of the Ukraine Plan for the Ukraine Facility.

Read also: Ukraine receives $1.5 B loan from Japan, UK through World Bank mechanism

Japan provided financial assistance through World Bank mechanisms. In particular, the state budget received USD 882 million as part of the Growth Foundations Development Policy Loan (DPL), USD 230 million as part of the Ukraine Agriculture Recovery Inclusive Support Emergency project (ARISE).

The concessional loan from Canada came under the third supplemental agreement, which is an extension of the agreement signed on August 8, 2022. 

The IMF financing is the fourth tranche under the Extended Fund Facility (EFF) Arrangement. Ukraine has already attracted about USD 5.4 billion out of the USD 15.6 billion provided under the program.

The concessional financing from the UK is part of the Growth Foundations Development Policy Loan through the World Bank mechanism. 

As reported, in January-February 2024, the Ministry of Finance attracted USD 1.2 billion in grants and concessional financing from international partners.

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