The state budget of Ukraine received a soft loan of 60 million from the World Bank

The state budget of Ukraine received a soft loan of 60 million from the World Bank

On Tuesday, November 22, the state budget of Ukraine received $60 million in funding from the World Bank.

On Tuesday, November 22, the state budget of Ukraine received $60 million in funding from the World Bank.

This is stated in the statement of the Minister of Finance of Ukraine, Serhiy Marchenko.

“Of these funds, 50 million dollars were provided on preferential terms from the International Development Association, and the rest – 10 million dollars as guarantees from Latvia”– the message says.

Marchenko thanked Latvia and the World Bank team for supporting the financial stability of Ukraine. According to him, the funds raised will allow Ukraine to strengthen funding for employees of the budget sector, and will also continue to ensure sustainable public administration in Ukraine.

The Minister noted that the funds will be directed to reimbursement of state budget expenditures made to ensure the remuneration of employees of state bodies and budgetary institutions in the field of education, both at the national and regional levels.

On October 14, Marchenko was elected chairman of the Board of Governors of the World Bank and the IMF.

Earlier it became known that the World Bank will provide Ukraine with 529.9 million dollars. US additional funding for urgent needs.

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Source: The state budget of Ukraine received a soft loan of 60 million from the World Bank

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