The Ministry of Finance and the World Bank signed a €236 million loan agreement guaranteed by the Government of Sweden

The Ministry of Finance of Ukraine and the World Bank have signed a loan agreement totaling EUR 236 million. The funds were raised under the “Public Expenditures for Administrative Capacity Endurance” (PEACE in Ukraine) Project from the International Bank for Reconstruction and Development, with a guarantee from the Government of the Kingdom of Sweden.

The loan agreement on behalf of Ukraine was signed by Minister of Finance of Ukraine Sergii Marchenko, and on behalf of the World Bank by Operations Manager for Eastern Europe Kevin Tomlinson. Ambassador Extraordinary and Plenipotentiary of Sweden to Ukraine Martin Åberg also took part in the signing ceremony.

The financing will soon be disbursed to the general fund of the State Budget of Ukraine and will be used to reimburse key social expenditures of the state.

The PEACE in Ukraine Project has been implemented since June 2022 in response to the russian federation’s full-scale armed aggression against Ukraine and aims to ensure the uninterrupted performance of core government functions at both national and regional levels under martial law. After this loan is disbursed, the total amount of financing mobilized under the project will reach nearly USD 53.5 billion.

“I am grateful to the World Bank and the Government of Sweden for their financial support. The funds raised will help ensure the resilience of the state system and Ukraine’s socio-economic stability during the war, as well as guarantee timely social payments to support the most vulnerable groups and the uninterrupted functioning of public institutions,” said Minister of Finance of Ukraine Sergii Marchenko.