Today, September 8, the Finance Ministry of Ukraine obtained the first tranche
of the Financial Sector Development Policy Loan worth $ 500 million in the
framework of the agreement between Ukraine and the International Bank for
Reconstruction and Development, signed on August 8, 2014.
The loan was raised
for 16 years with a 7-year privileged
period at a variable interest rate (on the date of signing - 0.63 %), one time fee is 0.25 %.
The funds will be directed to support of high priority reform measures in
the banking sector of Ukraine and implementation of a comprehensive program of
crisis management in the financial sector of Ukraine, in particular:
strengthening of operational, financial and regulatory capacity of the Deposit Guarantee
Fund; improvement of solvency of the banking system; strengthening of legal and
institutional framework for improving the sustainability and efficiency of the
banking system in the long run.