The Cabinet of Ministers of Ukraine adopted a decision that opens the way to receiving 4.8 billion dollars from the World Bank. About this reported Prime Minister Denys Shmyhal.
“Ukraine will receive $4.8 billion from the World Bank. A decision was made today that will allow these funds to be attracted within the framework of the PEACE project”, – said the official.
He explained that these funds will be financed by the United States and other international partners. Financing will be directed to the implementation of social and humanitarian programs. The prime minister also added that since the beginning of the full-scale invasion of Russia into Ukraine, more than 100 billion dollars of foreign funding has arrived.
Last month, Ukraine already received a $1.1 billion tranche from the IMF under the EFF program after a successful fifth review in September.
“Effective cooperation with the Fund is one of the levers of supporting the country’s financial stability in wartime conditions. The IMF continues to effectively respond to the needs of Ukraine. The decision to optimize the schedule of tranches for 2025 has become important for our state, which will allow more funds to be attracted to the state budget under the EFF next year”, — stressed the Minister of Finance of Ukraine, Serhii Marchenko.
Under the updated terms, up to $2.7 billion is earmarked for 2025 based on the results of four revisions to the EFF program. Previously, that amount was around $1.8 billion based on two views.
By the end of 2024, the IMF is Ukraine’s third largest donor in terms of financial aid, second only to the EU and the USA. During the 19 months of operation of the Enhanced Financing Mechanism program, Ukraine successfully passed five revisions, which is an unprecedented case in cooperation with the IMF. This made it possible to receive 8.7 billion dollars from the total 15.6 billion provided for by the program.
