Ukraine and the World Bank are negotiating a loan agreement for at least $1B.

According to the Ministry of Finance, this week a World Bank team, along with representatives from the Ministry of Finance and the Ukrainian government, will collaborate to finalize the key parameters of a new loan agreement from the IBRD to support the Fundamentals of Growth development policy, totaling at least $1B.

“We continue our joint work on a new Development Policy Operation (DPO) agreement, thanks to which we will be able not only to attract the necessary resources to support the state budget, but also to stimulate the recovery and development of the economy,” said Deputy Minister of Finance Olga Zykova.

Last year under this mechanism, the state budget received about $3.5B from three project agreements, allowing for the coverage of priority expenditures and the implementation of significant reforms. The terms are expected to be finalized by the end of June, with their execution by Ukraine anticipated by the end of October, and the approval of financing by the World Bank Board of Directors in November.