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World Bank to assign USD 750 mln in financial guarantees for Ukraine

Such decisions add to the confidence that Ukraine's been following the right path, - President Petro Poroshenko
21:24, 18 December 2018

worldbank.org

The Board of Directors of the World Bank decided to assign USD 750 million in financial guarantees for Ukraine. Petro Poroshenko, the Ukrainian leader posted that on Facebook.

'I welcome the decision of the Board of Directors of the World Bank to let Ukraine the financial guarantees worth 750 million dollars. It is not only an important sign of the firm support of our state; it's also the authoritative institution's clear recognition of our tangible progress on the way to reforms, specifically those in the financial sector', Poroshenko said.

The President underlined that 'such decisions add to the confidence that Ukraine's been following the right path', and thanked the partners for their support.

Earlier, Prime Minister Volodymyr Groysman said Ukraine hoped for another loan from the IMF in December. 

The National Bank of Ukraine, too, expects for the positive decision of the Board of Directors of the International Monetary Fund (IMF) on the continuation of the cooperation with Ukraine and supply of the first tranche within new stand-by program until December 25. Yakiv Smoliy, the Head of the NBU, made such statement as Interfax-Ukraine reported.

“The session of the IMF Board of Directors is planned for Tuesday, December 18, during which the Ukrainian issue will be considered. We expect the positive decision on the stand-by program instead of the current EFF program and expect that the next tranche will be supplied after the decision until the Christmas (December 25),” Smoliy said.

Related: World Bank worsens prediction on GDP growth in Ukraine in 2018

Related: World Bank says preparing $650 million loan guarantee for Ukraine

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