Ukraine will receive a $1.5 billion loan from the World Bank (WB) under the guarantees of the Japanese government, Ukrainian Prime Minister Denis Shmygal said.
“Only the relevant agreement was signed by the World Bank and the Ministry of Finance during our meeting with World Bank Vice President Antonella Bassani,” Shmygal wrote in Telegram on Thursday.
According to him, the funds are envisaged to strengthen social protection, help people during the war and restore the economy.
The head of the Ukrainian government said that in total, the WB group together with partners mobilized $34 billion to help Ukraine, of which more than $22 billion has already entered the budget.
“We are especially grateful for PEACE in Ukraine, the largest investment project in the Bank’s history, which helps finance social payments and pensions. We appreciate our close cooperation and look forward to further joint projects for the reconstruction and development of Ukraine,” Shmygal wrote.
