This was announced by Prime Minister Denys Shmyhal at the government meeting.
“Thanks to today’s government decision, Ukraine will attract another 500 million dollars from the International Bank for Reconstruction and Development. This is part of a large project to support public expenditures to ensure sustainable state administration. We will direct the funds to support the poor, IDPs, and salaries for teachers and doctors,” he said.
As detailed in the press service of the Ministry of Finance, at a meeting of the government, a decision was made to attract the fourth additional financing in the amount of 500 million dollars. USA. The loan was granted on preferential terms as a guarantee of Great Britain within the framework of the implementation of the joint project with the International Bank for Development and the International Development Association (IDA) “Supporting public expenditures to ensure sustainable public administration in Ukraine”.
The loan repayment period is 18.5 years with a five-year grace period. The interest rate is 0.25% per annum, it is calculated on the unused part of the loan.
The raised funds will be used to reimburse state budget expenditures for social assistance payments to families with children, salaries for employees of state institutions of higher education, and communal services.
For reference. The project “Supporting public expenditures to ensure sustainable public administration in Ukraine” will be implemented from June 2022. The total amount of funds raised is 10.8 billion dollars. USA and 1.441 billion euros. These funds will be directed to the reimbursement of state budget expenditures made to ensure the remuneration of employees of state bodies and budgetary institutions in the field of education, the provision of pension payments and individual programs of state social assistance, as well as the payment of medical services under the medical guarantee program at the national and regional levels.
- On November 24, the European Parliament voted to provide Ukraine with macro-financial assistance in the amount of 18 billion euros
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