KIEV (Sputnik) — The Government of Ukraine and the World Bank have signed Thursday an agreement on the allocation of a $500-million loan to Kiev.
The agreement was signed by World Bank Director for Belarus, Moldova and Ukraine Qimiao Fan and Ukraine’s Minister of Economy and Trade Aivaras Abromavicius.
On Tuesday, the World Bank approved the decision to provide Ukraine with a $500-million loan. According to Ukrainian Prime Minister Arseniy Yatsenyuk, the money will support Kiev's efforts to carry out the economic reforms in the country.
The decision made by the bank’s board of directors is expected to pave the way for Kiev to receive an additional financial assistance from Japan and Norway under parallel financing arrangements.
