World Bank to grant credit to Ukraine

Other News Materials 10 January 2007 12:42

(ForUm) - The World Bank is granting a credit to Ukraine to the tune of USD 154.5 M. to implement and realize the Export Development Project 2, the Finance Ministry's press service reported.

The second Export Development Project will continue the previous successful project (1993 - 2003). The borrower and the main implementing agency is the Ukrainian Export Import Bank. The peculiarity of the second project is that the borrowed resources will be directed to exporters via the UkrExImBank's whole-sale crediting of Ukrainian commercial banks. The credit recipients will be private and privatized export-oriented enterprises, reports Trend.

On September 26, 2006 a Guarantee Agreement between Ukraine and the International Bank for Reconstruction and Development and a Loan Agreement between UkrExImBank and the International Bank for Reconstruction and Development were signed.

Since 1992, when Ukraine joined the World Bank, it has been granted some USD 5 billion to finance 36 programs and projects, Cabinet press office informed.