Ukraine will receive $26.3 million in budget support from the Kingdom of Norway

5/12/15

Ukraine will receive $26.3 million for general budget assistance from the Kingdom of Norway. On 12 May 2015, the Minister of Finance of Ukraine Nataliya Yaresko and the Minister for Foreign Affairs of Norway Børge Brende signed an Addendum to the Agreement between the Government of Ukraine and the Government of the Kingdom of Norway to support the State Budget of Ukraine (of 18 November 2014), which enables Ukraine to receive grant financing.The grant will be issued as part of a broad package of financial support to Ukraine from its bilateral and multilateral partners. This package follows the commencement of the new Extended Fund Facility credit program between Ukraine and the IMF (EEFIMF).The signing of the Addendum to the Agreement enables the grant capacity in supporting the State Budget of Ukraine to increase to 200 million Norwegian kroner ($26.3 million) from 100 million Norwegian kroner as was previously agreed in November 2014. The provision of this grant will favor the revitalization of macroeconomic stability and support the administrative reforms in Ukraine. Minister Yaresko underlined that this suport, on behalf of the Government of Norway, will enable Ukraine to reinforce the financial stability of the State Budget of Ukraine.

“This support is further evidence that the world understands that Ukraine is on its path of reform and that changes will follow. The assistance that is given to us by our foreign partners gives us confidence and supports us in building a new Ukraine" -Natalie Jaresko

You can mark the parts of text you like, which will be available at the link in the address bar of your browser

You can mark the parts of text you like, which will be available at the link in the address bar of your browser