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Ukraine to raise nearly $3 billion – Shmyhal

Photo: Press Service of the Cabinet of Ministers

We are talking about three – from the International Bank for Reconstruction and Development, as well as from the Japanese government.

The government has made several decisions to attract additional financial resources to the state budget of Ukraine. This was reported by the press service of the Cabinet of Ministers on Friday, May 19.

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Thus, a decision was approved to attract a loan from the International Bank for Reconstruction and Development for $500 million and a grant for $1.2 billion.

According to Prime Minister Denys Shmyhal, this is part of a major cooperation project with a total of $16.4 billion and 1.4 billion euros. The fund will be used to pay salaries, pensions, social assistance and medicine.

The Cabinet of Ministers also approved an agreement to raise a $1.5 billion loan guaranteed by the Japanese government as part of a project to support development and recovery policies.

“These funds will be used to strengthen Ukraine’s social protection and restoration,” Shmihal said.

In addition, the Cabinet of Ministers supported Ukraine’s participation in the European program Mechanism for Connecting Europe.

“This is the EU funding path for the development of modern transport, energy and digital infrastructure. The total budget of the program in 2027 is almost 21 billion euros,” said Smihal.

Recall that since the beginning of 2023, Ukraine has received $17 billion in financial aid. Among the largest financial donors to the Ukrainian budget are the European Union, the United States and the International Monetary Fund.

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Source: korrespondent

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