By Anthony Marcus, correspondent. Eurasia Business News, August 5, 2024. Article n°1140.

Ukraine received a grant of $3.9 billion through the World Bank, Ukrainian Prime Minister Denys Shmyhal said. According to him, this is the first tranche of direct budget support from the United States this year. In general, Kyiv should receive $7.8 billion for the year.

As Mr. Shmyhal clarified on Telegram, the funds received as part of the first tranche “will help in financing priority budget expenditures as salaries of teachers and rescuers, social benefits.” He thanked the United States and the World Bank “for the high level of attention and support.”

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The head of the Ministry of Finance of Ukraine, Serhiy Marchenko, said last week that the authorities had signed an agreement with the World Bank to support the liquidity of the state budget, involving tranches of assistance from the United States. In July, the international rating agency Fitch downgraded Ukraine’s long-term issuer default rating to C (default is inevitable). The agency believes that a process similar to default has begun in Ukraine.

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© Copyright 2024 – Eurasia Business News. Article No. 1136.