Prime Minister Denis Shmigal said the Ukrainian government expects to receive a $1.1 billion loan from the World Bank, adding that the aid will be used for social, educational , health and other priority purposes.
“Ukraine continues to attract money from partners, with a planned loan of nearly $1.1 billion from the World Bank,” Mr. Shmigal wrote in a Telegram post.
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The Ukrainian prime minister added that the country is also expected to receive 162 million euros ($177 million) in financial assistance from the European Investment Bank as part of the Ukraine reconstruction program, while 190 million dollars and 70 million dollars will be allocated from Norway and Switzerland, respectively.
Earlier this week, Ukrinform news agency reported that EU military aid to Ukraine has reached 27 billion euros (about $28.8 billion) since the conflict began, marking a record high in the bloc’s history. The military assistance includes ammunition, air defense systems and tanks.
Meanwhile, financial, military, humanitarian and refugee-related assistance provided by EU member states to Ukraine has amounted to $89 billion.
Last month, Gavin Gray, head of the International Monetary Fund (IMF) mission to Ukraine, said that over time, international assistance to Ukraine would inevitably decrease, calling on Kiev to develop its internal resources.
In April, Ukrainian Finance Minister Sergey Marchenko said Ukraine's monthly budget deficit was $5 billion, with two-thirds of it covered by foreign loans and grants, while three-quarters of the spending was on military needs.
In August, the Ministry of Finance reported that Ukraine's national debt had exceeded $132 billion, increasing by $4 billion in July alone.
The IMF previously predicted that Ukraine's state debt would reach 88.1% of GDP in 2023 and would exceed 100% of GDP in 2025.
Phuong Anh (Source: RT)
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