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Ukraine signs $800 million loan with World Bank, Japan

Staff writer |
Ukraine has signed a loan agreement worth $500 million with the World Bank and a loan agreement worth $300 million with Japan, according to Ukrainian Minister for Economic Development and Trade Aivaras Abromavicius.

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"After a year, we've formalized a loan worth $500 million with the World Bank and worth $300 million from Japan. For budget needs," Abromavicius tweeted.

The disbursement of the loans was pegged to the fulfillment by Ukraine of a cooperation program with the International Monetary Fund (IMF).

The minister also thanked the international partners, the Ukrainian government, namely Finance Minister Natalie Jaresko, and the Verkhovna Rada for a constructive approach to the implementation of joint programs.

Ukraine's parliament on July 16, 2015, passed five laws, which paved the way for the IMF second tranche worth $1.7 billion, $1 billion from the World Bank, $300 million from Japan, and $200 million from Germany.

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