Ukraine expects US$350 mln from World Bank by end of June

Ukrainian Finance Minister Serhiy Marchenko says Ukraine expects to receive US$350 million from the World Bank by the end of June 2020.

"A positive signal from the [International Monetary Fund] IMF gives us the opportunity to unlock cooperation with other international partners," he said at a briefing on June 10.

Read alsoEuropean Commission green-lights EUR 500 mln in financial aid for Ukraine

"First of all, it is the European Commission, and I would like to congratulate you – today we can say that we'll get the first EUR 500 million tranche of Macro-Financial Assistance. And soon, by the end of the year, we'll additionally receive EUR 1.2 billion," he said.

"World Bank financing will be unlocked," he said. "We are talking about US$1 billion by the end of the year. By the end of June we will get US$350 million."

As UNIAN reported earlier, the IMF Executive Board on June 9 approved an 18-month Stand-By Arrangement (SBA) for Ukraine, with access equivalent to SDR 3.6 billion (about US$5 billion, or 179% of quota).