The World Bank has allocated funds to Ukraine for pension payments: what is the amount in question?
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Ukraine has attracted $841 million from the World Bank under guarantees from the Government of Canada. The funds will be used to reimburse the state budget for pension payments.
This was announced by Prime Minister of Ukraine Serhiy Koretsky.
The funding was raised under the PEACE in Ukraine project, in accordance with agreements reached in September. The total volume of the project has already reached $54.3 billion.
Koretsky noted that the project is the largest investment project in the history of the institution and one of the key mechanisms for supporting the financial stability of Ukraine.
“I thank the Government of Canada and the World Bank for their important and fortunate assistance to Ukraine in the face of a significant budget deficit,” Koretsky noted.
It was previously reported that Ukraine may face a shortage of funds for pension payments as early as October if the state does not receive the agreed financial assistance from international partners on time. Financial expert Serhiy Fursa stated this risk.
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