INTERNATIONAL FINANCIAL AID FOR UKRAINE SOARS TO $40 BLN - POROSHENKO

Business news from the Ukrainian League of Industrialists and Entrepreneurs

INTERNATIONAL FINANCIAL AID FOR UKRAINE SOARS TO $40 BLN – POROSHENKO

2 Apr , 2015  

Ukraine’s President Petro Poroshenko has said that the international financial aid for Ukraine will total $40 billion.

“With aid from the World Bank, international financial institutions, the United States, the European Union, Canada, Australia, Japan, Switzerland, and Turkey, the total sum, including funds from the IMF (International Monday Fund) will amount to $40 billion,” Poroshenko said. He recalled that recently the IMF has approved a new $17.5 billion aid program for Ukraine.

“We have already held the first stage of reforms, and made a decision about the legislation to ensure implementation of our memorandum with the IMF, and I want to say that as a result of very difficult talks with the IMF we managed to defend our key positions on support, including social protection, and to prevent our poorest social groups from being increasingly worse off,” the Ukrainian president said.