Ukraine Receives $1.5 Bln Loans From World Bank

by Meifan Honcharuk
Saturday, July 22, 2023
Ukraine Receives $1.5 Bln Loans From World Bank

Funding provided thanks to Japanese guarantees to the WB

On July 20, the minister of finance of Ukraine and the VP of the World Bank EU and Central Asia region signed an agreement on the transfer of $1.5 billion in loans to the budget of Ukraine. Funds guaranteed by Japan will be transferred through the World Bank Trust Fund. Financing will be directed to the restoration of the social sphere, protection of the population of Ukraine, as well as support for macro-financial stability.

Earlier, the government of Japan provided Ukraine with preferential loans for $581 million through JICA.

Since the beginning of the full-scale invasion of the Russian Federation, the World Bank has mobilised financial resources from international partners in the amount of $34 billion, of which more than $22 billion has already gone to the state budget of Ukraine. The funds are directed to maintain macro-financial stability in Ukraine and ensure priority spending of the state budget.

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