Ukraine’s Poroshenko: World Bank Approves $750 Million Loan Guarantee
18 December 2018, 22:00
The World Bank has approved a $750 million loan guarantee for Ukraine, President Petro Poroshenko said on Twitter on Tuesday, calling it proof of his nation’s “tangible progress on the reform path.”
It is not only an important signal of a solid support of our country. It is also a clear recognition by the respected financial institution of our substantial progress on the road of reforms, in particular in financial sphere.
— Петро Порошенко (@poroshenko) December 18, 2018
The World Bank, International Monetary Fund and other bodies support Ukraine with loan agreements conditional on Kiev passing reforms and tackling corruption. The IMF executive board was expected to meet later on Tuesday to approve a new stand-by loan deal for Ukraine worth $3.9 billion.