Ukraine reveals size of new international loan

The Ukrainian government expects to get a loan of $1.1 billion from the World Bank, Prime Minister Denis Shmigal said on Saturday, adding that the aid will be used for social benefits, education, medicine, and other priorities.

“Ukraine continues to attract money from partners, with an almost $1.1 billion loan expected from the World Bank,” Shmigal wrote in a Telegram post.

The prime minister added that the country also expects to obtain €162 million ($177 million) in financial support from the European Investment Bank as part of programs to restore Ukraine, while $190 million and $70 million would be allocated by Norway and Switzerland, respectively.

Earlier this week, the Ukrinform news agency reported that EU military aid for Ukraine had reached €27 billion euros (some $28.8 billion) since the beginning of the conflict, marking a record high in the bloc’s history. The military assistance includes ammunition, air defense systems and tanks.

Meanwhile, financial, military, humanitarian, and refugee assistance provided by EU member states to Ukraine has already amounted to about $89 billion.

Last month, Gavin Gray, the head of the International Monetary Fund’s (IMF) mission in the country, said that over time international support for Ukraine would inevitably decrease, encouraging Kiev to develop internal resources for self-financing.

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