22 November 2022, Tuesday, 17:36 114

Ukraine Receives Additional Financing From World Bank IDA And Guarantee From Latvia For USD 60 Million

Редактор: Tetiana Herasimova

Ukraine has received additional funding from the World Bank from the International Development Association and a guarantee from Latvia for USD 60 million.

This is stated in the message of the Ministry of Finance, Ukrainian News Agency reports.

It is noted that on November 22, the state budget of Ukraine received USD 60 million of financing from the World Bank.

Of these funds, USD 50 million was provided on preferential terms from the International Development Association, the rest - USD 10 million - as guarantees from Latvia.

These loans were provided within the framework of the agreement on financing to Ukraine within the framework of the implementation of the project "Support to public spending to ensure sustainable public administration in Ukraine" joint with the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA).

The term of repayment of the loan from IDA is 10 years with a 4-year grace period, a one-time fee - 0.25%, a commitment fee - 0.25% per annum of the outstanding balance.

The term of repayment of the loan from Latvia is 18.5 years with a 4-year grace period, a one-time fee - 0.25% and a commitment fee - 0.25%.

The funds will be used to reimburse state budget expenditures made to ensure the remuneration of employees of state bodies and budgetary institutions of the educational sphere, both at the national and regional levels.

As Ukrainian News Agency earlier reported, on November 22, Ukraine received EUR 2.5 billion of macro-financial assistance from the European Union.

On October 18, Ukraine received EUR 2 billion of macro-financial assistance from the European Union under the eighth macro-financial assistance program.

At the end of September, Ukraine received EUR 500 million of grant assistance from the European Union.

On September 17, the state budget of Ukraine received a grant from the United States in the amount of USD 1.5 billion from the World Bank Trust Fund.

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