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Ukraine will raise $1.5 billion from the IBRD to support business

The Cabinet of Ministers adopted a decree that will open the possibility of receiving a loan from the International Bank for Reconstruction and Development in the amount of $1.5 billion to support business. Prime Minister Denis Shmyhal announced this at a meeting of the Cabinet of Ministers.

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What is known

Raising $1.5 billion will help support business, increase exports, and ensure macro-financial stability, Shmygal emphasized.

Also , according to the prime minister, the Cabinet of Ministers approved a resolution defining the terms of the loan from Canada.

“This is an additional 2 billion Canadian dollars (more than $1.5 billion), which we can receive this year,” Shmygal said.

In addition, he reported that Ukraine is working with partners to create a large credit line for the restoration of Ukraine and integration with the EU for five years at 0%.

The Prime Minister emphasized that these funds will be used for construction, repairs, logistics, education and other purposes.

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