20 Nov 2023 16:01

Ukrainian govt approves $260-mln grant, $1.1 bln loan from WB, 162 mln euro loan from EIB - Shmygal

MOSCOW. Nov 20 (Interfax) - The Ukrainian government has approved a $260 million grant, a $1.1 billion loan from the World Bank, and a 162 million euro loan from the European Investment Bank for reconstruction programs, Prime Minister Denis Shmygal said.

"The government team is paying a lot of attention to negotiations on getting the necessary funding to finance the budget deficit, our critical needs, and our reconstruction program. We're making a decision enabling us to receive a grant of nearly UAH 10 billion from our partners. Norway should provide $190 million and Switzerland $70 million," Ukrainian media quoted Shmygal as saying at a government meeting last Friday.

The grant will be provided via funds administered by the World Bank Group, he said.

"Apart from that, there's a decision that would enable us to get a nearly $1.1 billion loan from the WB. Support is very important now, which the government will direct to social payments, education, medicine, and other priority needs," he said.

The government has also endorsed two decisions to receive about 162 million euros from the EIB, he said.

"This funding is part of the Ukrainian restoration programs being implemented. I am speaking of reconstructing and building schools, hospitals, kindergartens, administrative buildings, administrative services centers, water treatment installations, and other facilities. On the whole, owing to this funding from the EIB, we'll be able to complete work on 28 sites and start implementing 186 new projects improving the living conditions of Ukrainian communities," he said.