The World Bank Promised to Give Kiev $800 Million If Ukraine Continues to Borrow From the IMF

Translated by Ollie Richardson & Angelina Siard


Ukraine can obtain budgetary guarantees from the World Bank for the sum of $800 million only if the cooperation with the International Monetary Fund continues. This was stated during a press conference by the director of the World Bank for Belarus, Moldova, and Ukraine Satu Kähkönen.

“We are trying to receive this money from the markets for Ukraine to support the reforms that now take root. In order so that we can move forward with our guarantee, the program of cooperation with the IMF must be properly implemented,” she said.

Kähkönen added that the executive management of the World Bank expects a positive result in negotiations between Ukraine and the IMF.

Earlier it was reported that the World Bank, at the request of the government of Ukraine, will provide a $650 million guarantee for attraction about $800 million in foreign markets if a number of economic laws enter into force and an agreement is reached with the IMF concerning the fourth revision of the program.

Meanwhile, the day prior Ukraine reached a basic agreement with the IMF concerning the gas price. According to the agreement, gas prices for the population will correspond to the market price level from 2020.

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