Ukraine Receives $63 Million World Bank Loan to Cover Salaries of Government Officials and Teachers

The Ministry of Finance of Ukraine reported that the World Bank had transferred to it a loan of $63 million intended to cover the salaries of teachers and civil servants.

And the Ukrainian finances, in their statement today, on Monday, confirmed that the transfer of funds took place within the framework of the program “Support for public spending in order to ensure the stability of public administration in Ukraine”.

Finance indicated that the repayment period is 10 years and the loans are valid for 4 years.

The funds will be used to pay salaries to government employees and education personnel for February and March 2023, while it is reported that the budget of Ukraine for 2023 has a deficit of $ 38 billion, which Ukrainian President Volodymyr Zelensky asked Western countries to cover it for financial aid account.

Source: TASS

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