Ukrainian government orders economy ministry to draw up$750 mln loan project jointly with IBRD

10:43, 24.04.2014 1 min read

The Ukrainian government has ordered the Economic Development and Trade Ministry of Ukraine to draw up the First Development Policy Loan Project jointly with the International Bank for Reconstruction and Development (IBRD) which foresees borrowing of $750 million by Ukraine.

The order is stipulated in cabinet resolution No. 395-r of April 23 posted on the government's Web site.

"[The government orders] to declare the preparation of the First Development Policy Loan Project jointly with the IBRD, the borrowing of funds from the IBRD under the said systemic project in the amount of $750 million and define the Economic Development and Trade Ministry of Ukraine responsible for the preparation of the systemic project in general," reads the document.