Ukraine received 1 billion from Japan and Britain. Where will the funds be directed
news.online.ua
Tue, 24 Dec 2024 15:12:00 +0200
Where will the funds received from Japan and Britain be directedAs reported by the Prime Minister of Ukraine Denys Shmyhal, the tranche consists of567 million US dollars under guarantees from the Government of Japan within the framework of the ADVANCE Ukraine Trust Fund,483 million US dollars under the guarantee of the UK government.Minister of Finance Serhiy Marchenko noted that these funds will be directed to developing Ukraines economic potential and financing priority social and humanitarian needs of the state budget.The DPL program is aimed at supporting the implementation of reforms in Ukraine.
The tranche was made possible by achieving key indicators in the following areascustoms and tax policy,fight against corruption,support for stateowned enterprises,private sector development,logistics infrastructure.
Ukraine remains committed to the reform process even under martial law.
This not only helps attract critical resources, but also contributes to the countrys economic growth, recovery, and European integration, emphasized Deputy Minister of Finance Olga Zykova.
Ukraine received a new tranche from the IMF for 1.1 billion.
Where will the funds be directedAs reported by Prime Minister of Ukraine Denys Shmyhal, these funds have already been credited to Ukraines accounts and will be used to finance critical budget needs.In total, Ukraine received 9.8 billion from the IMF under this program.Recall, on March 31, the IMF Executive Board approved a fouryear extended financing program under the Extended Fund Facility EFF.The Fund emphasizes that this is a loan of 15.6 billion for Ukraine.As mentioned earlier, the program consists of two parts urgent funding until the war is won and postwar reconstruction.This loan is the first large package approved by the IMF for a country at war.
Over the past year, 2023, Ukraine has already attracted about 4.5 billion of this 15.6 billion.
In May 2024, Ukraine and the IMF began negotiations on the fourth review of the Extended Fund Facility.We remind you that in June 2024, a new tranche of 2.2 billion was allocated to Ukraine.
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