Ukraine receives $132ml from World Bank

12.05.2023, 14:31
Ukraine receives $132ml from World Bank - Photo

Ukraine has received a USD 132 million loan from the World Bank, its finance ministry said in a statement on Friday.

The assistance, transferred to the general fund of Ukraine’s state budget, will be allocated for agricultural development.

"The raised funds will allow us to continue maintaining the financial stability of Ukraine and to reimburse priority expenditures, in particular in the agricultural sector, which will have an impact on the food industry and food security of Ukraine," finance minister Sergii Marchenko was quoted as saying.

The loan was granted within the framework of the loan agreement (Acceleration of Private Investments in the Agriculture of Ukraine Program) between Ukraine and the International Bank for Reconstruction and Development, the ministry added.

In April, the European Union disbursed another EUR 1.5 billion tranche of macro-financial assistance as part of its long-term programme of supporting Ukraine.

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