The Ukrainian government has approved raising a $1.5 billion loan from the International Bank for Reconstruction and Development (IBRD), Ukrainian Prime Minister Denis Shmygal said.
"The government has a roadmap. These are projects which we have been discussed with partners and which are filled with details. The first point is to raise investments," Ukrainian media quoted Shmygal as saying at a government meeting on Tuesday.
The Ukrainian authorities are working with partners to establish a major credit line for five years at 0% interest to facilitate Ukraine's recovery and its integration with the European Union, he said.
These funds will be spent on construction, repairs, logistics and education, he said.
"At the meeting, we are also adopting a decree that will pave the way for receiving a loan of $1.5 billion from the International Bank for Reconstruction and Development. This will allow us to continue to help businesses, increase exports and ensure macrofinancial stability," Shmygal said.
In addition, the government approved a decree setting the terms for a Canadian loan of an extra CAD 2 billion, which Ukraine will receive in 2024, he said.
"There is an understanding regarding priority sectors for which we want to raise investments first of all. They are the production of critical raw materials, the full cycle of making electric-car batteries. This is also the chemical industry, timber processing, float glass, and machine building," Shmygal said.
