Ukrainian govt approves IBRD concessional loan, grant for eRecovery program

MOSCOW. June 28 (Interfax) - The Ukrainian government has approved receiving a concessional loan of $70 million and a $152-million grant from the International Bank for Reconstruction and Development (IBRD) to pursue the eRecovery program, Prime Minister Denis Shmygal said.

"Today we are to approve two decrees that will allow to attract funds from the International Bank for Reconstruction and Development. It is a concessional loan of $70 million and a grant of $152.5 million for the implementation of the eRecovery program," Ukrainian media quoted Shmygal as saying in a statement at a government meeting on Tuesday.

These decisions will also allow Ukraine to investment more than 8 billion hryvni in restoring Ukrainian citizens' homes, he said.

"Tens of thousands of families will be able to receive funds to repair their homes as soon as possible," the prime minister said.