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Ukraine to receive $1.5 bln loan from World Bank — PM

The Ukrainian government expects a record budget deficit of $43.9 bln in 2024 and plans to cover the bulk of it with financial aid from its Western partners

MOSCOW, March 27. /TASS/. Ukraine will receive a $1.5 bln loan from the World Bank guaranteed by Great Britain and Japan, Ukrainian Prime Minister Denis Shmygal said.

"The World Bank’s board of directors has approved a $1.5 bln loan for Ukraine to support development policies. Of that sum, $984 mln will be mobilized by Japan and $516 mln by Great Britain," the Ukrainian premier wrote on his Telegram channel as he expressed hope that Ukraine would get the aid by the end of the month.

The Ukrainian government expects a record budget deficit of $43.9 bln in 2024 and plans to cover the bulk of it with financial aid from its Western partners. Kiev acknowledges that it will be able to cover non-defense expenses without Western donors and that it would have difficulty paying social benefits and public wages if no financial aid arrives.

Meanwhile, legislation in the US Congress has been stalled for more than four months over more aid for Ukraine. At a summit in December 2023, the European Union failed to sign off on a four-year financial aid package worth 50 bln euros for Kiev and only did so at an extraordinary summit on February 1.

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Ukraine crisis World Bank

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