The WB grants Ukraine $500M under British guarantees.

The World Bank has allocated an additional $500M to Ukraine through the International Bank for Reconstruction and Development (IBRD) under guarantees from Great Britain announced in September, the WB said. The loan repayment period is 19 years with a five-year grace period and an interest rate of 0.25% per annum. The Ministry of Finance of Ukraine reported that money from the World Bank will be directed to the state budget for the payment of salaries to public sector employees, pensions, social benefits, such as payment of housing and communal services, support for low-income families, disabled children, and internally displaced persons. The World Bank, the issuer of the second largest amount of Ukraine’s credit after the IMF, mobilized $13B in emergency financing for the state, of which $11.4B has already been allocated.