The world Bank will give Ukraine a guarantee of $650 million

Всемирный банк даст Украине гарантии на $650 млн

In case all the conditions are met, Ukraine will be able to raise about $800 million

For the allocation of guarantees of Ukraine should complete the reforms initiated and to receive the next tranche of the IMF.

The world Bank is preparing for Ukraine’s guarantee operations for $ 650 million in support of major reforms for economic growth, fiscal sustainability and improved management. On Thursday, August 16, Interfax-Ukraine with reference to press release of the Bank.

“After the completion and approval of a new operation, Ukraine will receive a guarantee from the International Bank for reconstruction and development in the amount of $650 million, which will help to borrow about $800 million in foreign markets”, – said in a release.

In order for the new operation, the world Bank, you must confirm the completion of all actions initiated reforms and favourable macroeconomic situation. In this context, a critical Bank calls the entry into force of the laws On amendments to some legislative acts of Ukraine concerning improvement of the functioning of the financial sector in Ukraine (№8331д) and On amendments to some legislative acts of Ukraine regarding the resumption of lending” (No. 6027д), which was adopted by the Verkhovna Rada in July.

The Bank also indicates that critical for the government is to reach agreement with the IMF on the fourth review of the eff EFF, without which the new guarantee operation cannot be carried out.

“The world Bank urged the Ukrainian government to complete all necessary actions initiated reforms and to reach agreement with the IMF on the fourth review of the program lending,” – noted in a release.

As reported, the IMF mission will arrive in Ukraine on 6 September. The government of Ukraine expects that the outcome of its work will be decided on the allocation of the fifth tranche in the amount of approximately $1.9 billion.

 

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