At its meeting on November 15, the Cabinet of Ministers has approved a decision on raising a concessional loan from the World Bank for more than $1 billion and an additional EUR 150 million from the European Union.
Prime Minister Denys Shmyhal announced this at a government meeting on Friday, Ukrinform reports.
“Today we have approved a decision to attract a concessional loan from the World Bank for more than $1 billion,” he said.
The Prime Minister clarified that these funds were accumulated with the support of the governments of Japan and the United Kingdom. He expressed gratitude to the partner countries for their support.
“Another decision we are making today will allow us to attract an additional EUR 150 million from the European Union. Under this agreement, the funds will be allocated for the restoration of port infrastructure and the implementation of rapid recovery projects,” the Prime Minister said.
He stated that EUR 65 million of the funds will be allocated to finance a free meal program for primary school pupils in 2025. “The program was initiated by the President of Ukraine and is already operational. We are currently allocating the necessary funds to keep it operating next year,” Shmyhal summarized.
As Ukrinform reported, the European Commission has given a positive assessment for the second regular payment of close to EUR 4.1 billion under the Ukraine Facility.
Photo: NBU
Source: Ukraine to attract more than $1B from World Bank and EUR 150M from EU
