Photo: Dilo
The Ministry of Finance reported that the money has already entered the state budget
The funds will be used to reimburse state budget expenses for social assistance payments to families with children and salaries for employees of state institutions of higher education.
Through the World Bank project, Ukraine received from the UK the second part of additional funding in the amount of $203 million. This is reported by the Ministry of Finance.
It is noted that the money has arrived in the state budget today. The funds will be used to reimburse the state budget for the payment of social assistance to families with children and wages to employees of state institutions of higher education.
The total amount of the loan secured by the UK is $500 million.
Financing was provided on concessional terms through the World Bank mechanism as a guarantee from the UK under the Fourth Additional Financing Agreement for Ukraine for the Public Expenditure Support project to ensure sustainable public administration in Ukraine. The project is being implemented jointly with the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA).
It is reported that the maturity of the loan with an interest rate of 0.25% per annum is 18.5 years with a five-year grace period.
According to Finance Minister Sergei Marchenko, from the first days of the full-scale war of the Russian Federation against Ukraine, the UK has been one of the leaders in assistance in all possible areas, including the provision of financial assistance.
Earlier it was reported that Britain will allocate five million pounds to Ukraine.
Recall, as Prime Minister Denys Shmyhal said, in February Ukraine plans to attract more than two billion dollars from the United States, the World Bank and other donors.
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