Ukraine has received USD 1.5 billion in loans from Japan and the United Kingdom through the World Bank mechanism. This was reported by the press service of the Ministry of Finance of Ukraine, Komersant ukrainskyi reports.
The financing consists of a guarantee from the Government of Japan through the World Bank Trust Fund (ADVANCE Ukraine) in the amount of USD 984 million and a guarantee from the United Kingdom in the amount of USD 516 million.
A total of USD 1.4 billion has already been transferred to the state budget. To reduce the cost of servicing the loans, the capitalisation of interest in the amount of USD 99.54 million is envisaged. The Ministry of Finance reported that the Japanese funds will be used to capitalise the interest in the amount of USD 99.54 million.
“The raised financing will be used to support the key priorities of the state budget,”
– said Minister of Finance of Ukraine Sergii Marchenko.
Receiving the tranche was subject to Ukraine’s fulfilment of eight necessary requirements under the programme, including the harmonisation of customs and tax legislation with EU standards, improvement of fiscal policy and regulation of capital markets, as well as ensuring transparency and accountability in the e-procurement system.
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