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Ukraine plans to attract another $500M from IBRD

Ukraine plans to attract another $500 million from the International Bank for Reconstruction and Development. The funds will be used to support low-income people, internally displaced persons, pay salaries to teachers and doctors.

"Thanks to the Government decisions adopted today, Ukraine will attract another $500 million from the International Bank for Reconstruction and Development... We will direct the funds to support the low-income, IDPs, and pay salaries to teachers and doctors," Prime Minister of Ukraine Denys Shmyhal said at the Cabinet’s meeting.

According to him, this is part of a large project to support public expenditures to ensure sustainable public administration.

As reported, Ukraine implements a joint project with the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA) "Public Expenditures for Administrative Capacity Endurance (PEACE) in Ukraine" worth $6.3 billion and EUR 1.441 billion, including a grant of $5.8 billion.

These funds are aimed at reimbursing state budget expenditures made to ensure the payment of salaries to employees of state bodies and budgetary institutions in the field of education, provision of pension payments and certain programs of state social assistance, as well as payment of healthcare services under the healthcare guarantee program at both the national and regional levels.

Photo: Denys Shmyhal/Telegram

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