The World Bank will provide Ukraine with a loan of $750 million
The World Bank has approved a new systemic project in Ukraine, Supporting Recovery through Responsible Fiscal Governance (SURGE). The total volume of the project is about $750 million for 2024-2027.
This is reported by RBC-Ukraine with reference to the press service of the Ministry of Finance.
The financing will consist of a $450 million loan from the International Bank for Reconstruction and Development (IBRD) from the Trust Fund for Providing Ukraine with Necessary Credit Support (ADVANCE Ukraine), supported by the Government of Japan, as well as a $300 million loan from the Special Program for Ukraine and Moldova (SPUR) of the Bank's Crisis Fund.
As part of the IBRD loan agreement, Ukraine expects to draw down the funds by the end of 2024.
The relevant international agreements with the World Bank are expected to be signed in the near future, the Ministry of Finance said.
Author - Dmitriy Levchenko, 08/11/2024
