Ukraine received Additional USD 500 Million from the World Bank Guaranteed by the United Kingdom
The State Budget of Ukraine received USD 500 million of additional financing from the World Bank. Funds were provided on concessional terms as a guarantee from the United Kingdom.
The loan was granted under the Agreement on providing Ukraine with the Third Additional Financing within the framework of the implementation of the joint project with the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA) Public Expenditures for Administrative Capacity Endurance (PEACE) in Ukraine.
The repayment period is 19 years with a five-year grace period. The interest rate is 0.25% per annum.
These funds will be directed at reimbursing the costs incurred by the State Budget of Ukraine for the payment of public sector employees, provision of pension payments and certain programs of state social assistance, such as payment of housing and communal services, support for low-income families, children with disabilities and disabled from childhood, IDPs.