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Ukraine gets first $500 million tranche from World Bank

September 08, 2014, 17:18 UTC+3 KIEV
The loan is issued for 16 years with a seven-year grace period and a floating interest rate (with the annual interest rate of 0.63% as of the signing date) and one-time fee of 0.25%
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KIEV, September 08./ITAR-TASS/. Ukraine has received the first tranche of $500 million from the World Bank aimed to support reforms in the financial sector, the press service of the Ukrainian Finance Ministry reported on Monday.

The money was transferred within the framework of an agreement signed between Kiev and the International Bank for Reconstruction and Development on August 8, it said.

The loan is issued for 16 years with a seven-year grace period and a floating interest rate (with the annual interest rate of 0.63% as of the signing date) and one-time fee of 0.25%.

The press service said the money would be used to support “priority measures in reforming the banking sector and introducing a comprehensive programme for anti-crisis management in Ukraine’s financial sector”.

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