KYIV. Aug 27 (Interfax-Ukraine) – The forex reserves of the National Bank of Ukraine (NBU), which totaled $10.38 billion as of early August 2015, have expanded to $12 billion, Ukrainian Prime Minister Arseniy Yatseniuk said while opening a cabinet meeting in Kyiv on Wednesday.
He said that the World Bank on August 25 approved the provision of a $500 million IBRD loan to finance the Second Multi-Sector Development Policy Operation in Ukraine, which will be transferred to the government’s accounts by September 9.
“This opens the doors for additional financial resources which could be received from Japan – $300 million and other contributors,” he said.
Yatseniuk said that the World Bank could provide another $500 million under the Second Financial Sector Development Policy Loan (FSDPL2), which would also be transferred to the government’s accounts, which would create a cushion of financial stability.
He said that government has accumulated financial resources this year, taking into account possible threats from international financial markets, and at present, it has UAH 30 billion in the single treasury account, and UAH 35 billion in currency accounts.
“In general, the financial situation in Ukraine is rather stable, and all measures taken by the government jointly with our international partners show that there is [a large] enough financial cushion, and enough resources to retain stability,” Yatseniuk said.
