Ukraine received a tranche of 1.5 billion dollars from the World Bank

Ukraine received a tranche of 1.5 billion dollars from Great Britain and Japan through the mechanism of the World Bank. This was reported by the press service of the Ministry of Finance of Ukraine. This is a loan to support development policy under the Growth Foundations Development Policy Loan (DPL) program.

The Minister of Finance of Ukraine, Serhiy Marchenko, said that the allocated funds will be used to support the key priorities of the country’s state budget. “Effective work of the government together with timely support from partners allow us to maintain the stability of the financial system even in the conditions of full-scale aggression and daily terror from Russia,” he said.

The loan was approved by the World Bank on March 26. In order to be included in the DPL loan program, Ukraine had to fulfill a package of eight bank requirements. It included, in particular, the harmonization of the customs and tax legislation of Ukraine with the norms of the EU, improvement of fiscal policy and regulation of capital markets, ensuring transparency and accountability in the electronic procurement system.

Also, on March 29, the Ministry of Finance of Ukraine and the US Ambassador to Kyiv, Bridget Brink, signed an agreement on deferred payments on the state debt. It is carried out in accordance with the memorandum of understanding on the suspension of payments on the national debt with a group of official creditors of Ukraine from the G7 countries and the Paris Club. The memorandum was signed in December 2023.