The money will be used to boost the economy and fund priority spending in the social and humanitarian fields.
Ukraine received a tranche of $1 billion from Japan and Great Britain. Prime Minister Denis Shmyhal announced this on Telegram on Tuesday, December 24.
“The tranche comes under guarantees from the governments of these states within the framework of the DPL program of the World Bank. The funds raised will be used to strengthen our economy and finance priority expenditures on social and humanitarian fields,” he wrote.
In this regard, the Ministry of Finance clarified that the tranche consists of $567 million guaranteed by the Japanese government as part of the Trust Fund to provide Ukraine with the necessary credit support (ADVANCE Ukraine) and $483 million guaranteed by the British government.
“The purpose of the DPL project is to support the implementation of reforms in Ukraine. Thus, Ukraine receives the corresponding tranche based on the results of the implementation of the requirements of the program. Through this tranche, the results were achieved to ensure sustainable growth in the areas of customs and tax policy, the fight against corruption, support for state-owned enterprises, and private sector development and logistics infrastructure,” said the Minister of Finance of Ukraine Sergei Marchenko.
Earlier, Shmygal said that by 2024, direct budget support from Western countries will reach $41 billion. Next year, $38 billion is expected to be received and payments of frozen assets of the Russian Federation are expected.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.