Ukraine sees World Bank-backed loan this year: finance minister

By Andrei Makhovsky

KIEV (Reuters) - Ukraine hopes to raise new sovereign debt backed by a guarantee from the World Bank again this year though the size of the issue has not been decided yet, Finance Minister Oksana Markarova told Reuters on Monday.

The World Bank, International Monetary Fund and other bodies support Ukraine's war-scarred economy with loan agreements conditional on Kiev passing reforms and tackling corruption.

The country borrowed 529 million euros under World Bank guarantee in March after securing a new standby loan agreement from the IMF late last year. It expects to receive two IMF loan tranches worth a combined $2.5 billion in May and November.

Investors are also watching whether Ukraine will continue to pass reforms while holding a presidential election this April and a parliamentary election in October.

"We are working with the World Bank on the next guarantee. We would like to (get the loan) this year. We are working on the maximum possible amount, but it is too early to say specific figures," Markarova said.

"About the IMF program: everything goes well on the implementation of the program," she told Reuters on the sidelines of a business conference.

(Reporting by Andrei Makhovsky; Writing by Matthias Williams; Editing by Hugh Lawson)

Must Read

Home Depot rides housing boom to record sales, profit

Aug 16, 2016

Home Depot posted record sales and earnings during its second quarter and raised its profit expectations for the year as housing market continues to warm up

She said yes: Claye proposes after taking Olympic silver

Aug 16, 2016

She said yes: Claye proposes after taking Olympic silver

Fed minutes: Conditions could 'soon warrant' a rate hike

Aug 17, 2016

Fed minutes: Conditions could 'soon warrant' rate hike, as near-term risks have diminished


Obserworld delivers the most accurate and up-to-date world news for the global audience with a thorough research and in-depth interviews. Discover the world through Obserworld.

Contact us: sales[at]