Ukraine received a $1.5 billion loan in support of the Growth Foundations Development Policy Loan (DPL) from Japan and the UK through the World Bank mechanism. This was reported by the press service of the Ministry of Finance of Ukraine.
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Financing consists of:
- guarantees from the Japanese government through the World Bank Trust Fund (ADVANCE Ukraine) in the amount of $984 million, guarantees from the UK in the amount of $516 million.
< p>The general fund of the state budget received $1.4 billion. In order to reduce the cost of servicing Ukraine’s loan obligations, the program provides for the capitalization of interest on Japanese funds in the amount of $99.54 million.
It is noted that the prerequisite for receiving the tranche was the fulfillment Ukraine needs 8 requirements for the program, in particular, harmonization of customs and tax legislation of Ukraine with EU standards, improvement of fiscal policy and regulation of capital markets, ensuring transparency and accountability in the e-procurement system.