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World Bank delays approval of new loan for Ukraine until May 2

March 29, 2017, 4:04 UTC+3 WASHINGTON

The reasons behind the move are unknown

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WASHINGTON, March 29. /TASS/. The World Bank leadership has decided to postpone the approval of a $150-million loan for Ukraine, according to a notice obtained by TASS.

Informed sources in the organization earlier told TASS that the project was initially expected to be passed on March 31, under a simplified procedure that requires no debates. However, an internal notice that circulated in the organization Tuesday reads that the discussion will be held on May 2.

The document does not reveal reasons behind the move.

Under the deal, the World Bank will allocate a $150-million loan, intended to improve access to longer term finance for export oriented small and medium enterprises, to UkrEximbank, Ukraine’s sole official export financing institution.

According to an UkrEximbank statement released in November 2016, Kiev expected the loan to be approved until the end of the first quarter of 2017.

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