The world Bank blesed the allocation of five hundred million dollars of Ukraine to support the banking system, said on Thursday the world Bank Director for Belarus, Moldova and Ukraine Fan.

This is the first part of the aid package from the world Bank of Ukraine total up to 3, 5 billion dollars, which was approved in March of the current year. The total loan portfolio of the world Bank group Ukraine includes 12 projects and credits for the sum of 4, 2 billion dollars.

the Ministry of Finance of Ukraine informs that the loan is granted for 16 years with a seven-year grace period under the variable interest rate (6 month LIBOR plus a variable spread), one-time Commission is 0, 25%. Funds will be transferred to the state budget.

According to the envoy of the WB, the credits will go on priority measures to restore the banking sector of Ukraine - for example, to support the Deposit insurance Fund. The world Bank will support the banking system of Ukraine afloat by an independent valuation 35 largest financial institutions and will help the authorities in regulating the banking system, he added.

" We help the Ukrainian authorities to implement urgent measures to return the country to sustained economic growth, " said Commissioner of the WB.

sections: Politics