The WB postponed the first tranche of aid to Ukraine

Ukraine was supposed to receive $ 350 million in August. However, the Finance Ministry expects all the money to arrive before the end of the year.

Ukraine has yet to receive the first $ 350 million tranche of aid from the World Bank, which was agreed in June. This was stated in an interview with Interfax-Ukraine, which was published on Friday, September 18, said Finance Minister Sergei Marchenko.

It should be noted that the World Bank funds should have reached Ukraine by the end of August.

However, according to the minister, Ukraine will continue to receive the first tranche of the total loan of $ 700 million before the end of the year.

Marchenko also clarified that Ukraine initially hoped to attract a larger loan from the World Bank.

“At first we spoke of $ 1 billion, but due to the heavy burden on the World Bank budget due to requests from member countries, this amount was reduced to $ 700 million,” the minister explained.

Ukraine motivated the attraction of the World Bank loan by the need to finance key reforms.

We will recall, on June 27, that the Executive Board of the World Bank decided to grant Ukraine $ 350 million as part of the first loan for economic recovery and support for reforms.

Before that, it was reported that Ukraine expects help from the World Bank in the amount of $ 1 billion by the end of the year. At the same time, the first tranche of $ 350 million should be received in July.

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