The World Bank will provide Ukraine with a €236 million loan guaranteed by the Swedish government
The Ministry of Finance of Ukraine and the World Bank have signed an agreement for a €236 million loan guaranteed by the Swedish government to ensure the stable coverage of key social expenditures in the state budget.
This was officially announced by the ministry’s press service.
The raised funds will be transferred to the general fund of the state treasury in the near future.
“The Ministry of Finance of Ukraine and the World Bank have signed an agreement for a loan totaling 236 million euros. The funds were raised as part of the “Support for Public Expenditures to Ensure Sustainable Public Administration in Ukraine” (PEACE in Ukraine) project from the International Bank for Reconstruction and Development under a guarantee from the Government of the Kingdom of Sweden,” the ministry’s official statement reads.
The funds received will be fully directed toward the timely reimbursement of priority expenditures of the public sector.
The new funding will ensure timely social payments to reliably support the most vulnerable segments of the population and the uninterrupted operation of key state institutions.
The large-scale PEACE in Ukraine project has been successfully implemented since June 2022 as an effective financial response to the Russian Federation’s full-scale armed aggression against Ukraine.
Once this loan is fully disbursed, the total amount of financing mobilized under the project will reach nearly $53.5 billion.
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