World Bank allocates $150M to support Ukraine’s export-oriented firms

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The funds allocates by the World Bank will be spent to support export-oriented small and medium-sized enterprises.

On May 2, the Board of the World Bank took decision to allocate $150 million reimbursement to Ukraine as part of a long-term loan for funding export-oriented small and medium-sized enterprises, Censor.NET reports citing LB.UA.

According to the World Bank, access to long-term funding provided for small and medium-sized enterprises will help Ukraine increase exports and contribute to the country's economic growth.

Read more: IMF started transferring $1 bln tranche to Ukraine, - Finance Minister Danyliuk

The project will be implemented by Ukreximbank. It will give sub-loans to the banks participating in the project, which, in turn, will provide funding to the small and medium-sized enterprises. They will be selected taking into account their financial condition and ability to develop successful export-oriented business case.

The World Bank, the International Monetary Fund, and the European Bank for Reconstruction and Development are Ukraine's key contributors.

Read more: Hroisman on IMF loans: "External support is temporary for Ukraine; we must learn to generate resources within country"
Источник: https://censor.net.ua/en/n438690