By end of year, Ukraine could get $ 3.3 bn of financial assistance, - Finance Minister

Source : 112 Ukraine

1.3 billion could be provided by the IMF, the EU may assign 1.2 billion, and another 700 million could come from the World Bank
15:26, 10 August 2020

Serhiy Marchenko
Open source

By late 2020, Ukraine could get some 3.3 billion U.S. dollars from the IMF, the World Bank, and the EU. Serhiy Marchenko, Finance Minister of Ukraine said so as quoted by Kyiv Post.

1.3 billion could be provided by the IMF, the EU may assign 1.2 billion, and another 700 million could come from the World Bank.

The Ministry also plans that the government would switch to another format of cooperation with the IMF and minimize Ukraine's dependence from foreign loan suppliers.

This year, Ukraine already received USD 2.1 billion from the IMF, 500 million Euros from the EU (under the previous program of macro-financial aid), and 50 million dollars from the World Bank.

Earlier, President of Ukraine Volodymyr Zelensky held a telephone conversation with Acting President of the European Bank for Reconstruction and Development (EBRD) Jürgen Rigterink and Vice President of the EBRD Alain Pilloux. This was reported by the press service of the President's Office.

Zelensky noted that last year the EBRD's portfolio of projects in Ukraine amounted to 1.1 billion euros. The head of state expressed hope for an even more dynamic build-up of cooperation this year.

Related: Ukraine should think of IMF debt restructuring from the perspective of 'can we do this,' - Parliamentary Speaker

According to him, the global Covid-19 pandemic raises the issue of financing and supporting the liquidity of public and private sector companies even more acutely. In addition, there is a need to continue investing in infrastructure development in Ukraine.

EBRD President Jurgen Rigterink said that the Bank is ready to provide Ukraine with even more support in times of crisis, and this year has invested more than 300 million euros in Ukraine. He also noted the reforms of corporate governance of state-owned enterprises and banks in Ukraine and the provision of transparency in the procedures for appointing members of supervisory boards.

Related: Ukraine must maintain independence of National Bank amid governor’s resignation, - IMF

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