Government adopts decision to raise funds from IBRD and Canada

Ukraine is working intensively with its partners to establish a large credit line for Ukraine's recovery and integration with the EU for 5 years at 0% interest. Prime Minister of Ukraine Denys Shmyhal announced this during a Government meeting.

The Prime Minister stressed that the funding would be used for construction, repairs, logistics, education and other purposes.

"At this session, we are also adopting a resolution that will open up the possibility of obtaining a loan from the International Bank for Reconstruction and Development amounting to USD 1.5 billion. This will help us to further support business, increase exports, and ensure macro-financial stability. We are also passing a resolution setting out the terms of the loan from Canada. This is an additional CAD 2 billion that we can receive this year," said Denys Shmyhal.

The Head of Government also focused on the insurance of investment projects.

"Last year, we launched insurance for international and Ukrainian companies with the help of the Export Credit Agency. We engaged MIGA and DFC to insure military risks. With the help of our British partners, we started insuring merchant ships sailing along the Black Sea logistics corridor. As a result, we managed to halve the insurance rate. A number of countries have provided insurance instruments to their residents. One of the most recent cases is that the Swedish National Export Credit Agency (EKN) now accepts applications for special credit guarantees for exports to Ukraine. We are working to ensure that there are as many such decisions as possible," the Prime Minister stressed.

According to the Head of Government, Ukraine maintains a constant dialogue with its allies to strengthen our air defence system. This will provide even more reliable protection for the main industrial centres of the state.

https://www.kmu.gov.ua/en/news/uriad-ukhvalyv-rishennia-dlia-zaluchennia-koshtiv-vid-mbrr-ta-kanady