Ukraine may sign $350 million loan agreement with World Bank in August

Source : 112 Ukraine

When it takes effect, its funds will be transferred to the general fund of the state budget
19:45, 31 July 2020

Open source

In late August, Ukraine may sign a loan agreement for $350 million with the International Bank for Reconstruction and Development. The agreement can be signed in August. The Ministry of Finance, Interfax-Ukraine reports.

After the agreement is signed and takes effect, its funds will be transferred to the general fund of the state budget.

Related: Ukraine's inflation to accelerate to 4.7% by end of 2020, - National Bank

At the end of June, the Board of Executive Directors of the World Bank approved the allocation of $350 million to Ukraine as part of the first loan, which is planned for development policy in the field of economic recovery to support critical reforms.

It was about strengthening the land and credit markets by creating an efficient agricultural land market and regulating NPL in state banks, demonopolization and support for anti-corruption institutions, restructuring the gas sector and strengthening the social protection system for the elderly, who are especially vulnerable to coronavirus.

As we reported before, 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.

Related: Ukraine's Finance Minister sees no reason to change dynamics of UAH exchange rate

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