Most of the funds raised are grants and will go to finance education, medicine and social benefits.
The Cabinet of Ministers made the necessary decisions to attract $1.85 billion from international partners. The funds will be used to restore Ukraine’s economy and finance the state budget deficit, Prime Minister Denis Shmyhal said in a Telegram on Friday, September 29.
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In particular, a grant in the amount of 1 billion 150 million dollars (42 billion hryvnia) will be attracted from the United States through the World Bank.
“Our government will use these funds to finance education, medicine, social benefits and other important programs in the state budget,” Shmygal wrote.
Another $550 million is being raised from the International Bank for Reconstruction and Development to cover interest rates under the 5-7-9 preferential lending program and support small agricultural producers under the ARISE project.
“Of these, $320 million (11.7 billion hryvnia) are grant funds. Another $230 million (8.4 billion hryvnia) is a preferential loan from the World Bank for Reconstruction and Development guaranteed by the Japanese government,” said the head of government.
Another grant of $150 million (5.5 billion hryvnias) will be raised as part of the HOPE project from the IBRD-IDA Multi-Donor Trust Fund. These funds will be used to restore the homes of the people damaged and destroyed by the Russian invaders.
Let’s recall that in September Ukraine attracted about $3 billion in grants and preferential financing from international partners.
Source: korrespondent
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