The Cabinet of Ministers of Ukraine has approved the decision to attract a loan of USD 500 million and a grant of USD 1.2 billion from the International Bank for Reconstruction and Development (IBRD).
Ukrainian Prime Minister Denys Shmyhal announced this at a government meeting on May 19, the Ukrainian News agency reports.
"We are making a decision to attract a loan from the IBRD for USD 500 million and a grant for USD 1.2 billion. This is part of a large cooperation project with a total amount of USD 16.4 billion plus EUR 1.4 billion," he said.
These funds are used to pay salaries, pensions, social assistance, and medicine.
In addition, the government approved an agreement to attract a loan of USD 1.5 billion under the Japanese government's guarantees within the project's framework to support the development and recovery policy.
These funds will be directed to strengthening Ukraine's social protection and recovery.
As reported by Ukrainian News Agency, on April 28, the state budget of Ukraine received grant funds in the amount of USD 1.25 billion from the United States.
Today, Ukraine is implementing a joint project with the IBRD and the International Development Association Supporting Public Expenditures To Ensure Sustainable Public Administration In Ukraine for a total amount of USD 16.5 billion and EUR 1.4 billion (IBRD loans, IDA loans, grants from the Trust Fund of many donors).
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