Ukraine Will Receive USD 500 million from the UK through the World Bank Project

Today, on December 23, 2022, Minister of Finance Sergii Marchenko and World Bank Regional Director for Eastern Europe (Ukraine, Belarus and Moldova) Arup Banerji signed an Agreement on the provision of the fourth Additional Financing to Ukraine under the joint project Public Expenditures for Administrative Capacity Endurance in Ukraine (PEACE) with the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). The loan amount is USD 500 million.

The loan will be provided on concessional terms under UK guarantees: the loan maturity is 18.5 years with a five-year grace period. The interest rate is 0.25% per annum.

"The United Kingdom is one of the leaders in supporting Ukraine in the fight against russian invaders. Thanks to such reliable partners we have the opportunity to ensure the proper financing of priority expenditures. I am grateful to the Government of the UK and the team of the World Bank for their unwavering position in support of Ukraine. We hope for fruitful cooperation next year, which will help us to win this war," Sergii Marchenko said during the signing.

The funds will be directed to reimburse State Budget expenditures for child and family benefits, salaries of public employees, and utility payments.

Additional Information

In 2022, the UK Government provided Ukraine with more than USD 1.5 billion to finance the State Budget of Ukraine.