Ukraine Received €190 Mln From the World Bank

by Meifan Honcharuk
Tuesday, May 9, 2023
Ukraine Received €190 Mln From the World Bank

The funds came due to the partnership with the International Development Association 

The International Development Association is among the top 5 institutions of the World Bank Group. Financial assistance was received for €189.32 million in the framework of Ukraine's cooperation with the association – the project Support of State Expenditures for Sustainable Public Administration in Ukraine. The program involves the provision of these funds on credit for 10 years. The World Bank granted Kyiv a grace period of four years.

On 8 May, the press service of the Ministry of finance of Ukraine reported that a soft loan was credited to the account of the state budget fund of the country.

"Thank the World Bank team for supporting the financial sustainability of Ukraine," wrote finance minister Serhii Marchenko.

He also told how the money that has already been deposited into the state fund will be attracted. The loan will make it possible to pay teachers and government employees for 2023. In addition, financial assistance will help to ensure sustainable governance in times of war.

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