Finance ministry attracts $400M from WB under UK guarantee

The state budget of Ukraine received about USD 400 million under the guarantee of the United Kingdom through the World Bank Trust Fund.

According to Ukrinform, the Ministry of Finance reports.

"The funds raised are part of the fifth additional financing of the project Public Expenditures for Administrative Capacity Endurance (PEACE) in Ukraine," the statement said.

The financing will be used to partially compensate for the state budget expenditures made to reimburse pension payments and salaries of healthcare workers under the medical guarantees program.

The loan is granted on favorable terms: the maturity is 19 years with a five-year grace period.

"The assistance of international partners is critical for financing the social sector of Ukraine. I am grateful to the UK Government and the World Bank team for the productive cooperation which resulted in the mobilization of the necessary financial resources. I would also like to thank the UK for its intention to maintain direct budget support for Ukraine next year," Minister of Finance of Ukraine Sergii Marchenko said.

As reported, the total amount of financial assistance from the United Kingdom since February 2022 has reached USD 2 billion.