Ukraine receives US$1.5 billion loan from Japan and UK

Ukraine has received US$1.5 billion in loans from Japan and the United Kingdom under the Growth Foundations Development Policy Loan (DPL) through the World Bank mechanism.

Source: Ukraine’s Ministry of Finance 

Details: The funding includes a US$984 million guarantee from the Government of Japan through the World Bank Trust Fund (ADVANCE Ukraine). The United Kingdom has guaranteed US$516 million.

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Ukraine’s state budget’s general fund has already received US$1.4 billion. To reduce the cost of servicing Ukraine’s credit obligations, the programme allows for the capitalisation of interest from Japanese funds in the amount of US$99.54 million.

Background: 

Serhii Marchenko, Ukraine’s Minister of Finance, and Bridget Brink, US Ambassador Extraordinary and Plenipotentiary to Ukraine, signed an agreement to postpone public debt payments.

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