BUSINESSINDIVIDUALS

Ukraine gets $331 mln loan from Japan to strengthen macroeconomic stability

Ukraine has obtained a long-term loan worth $331 million from Japan under the Development Policy Loan II joint project with the World Bank.

A relevant report was posted on the website of Ukraine’s Finance Ministry.

“Ukraine has received a long-term low-interest loan worth $331 million from Japan under the Development Policy Loan II joint project with the World Bank. The credit has been issued via the Japan International Cooperation Agency," reads the report.

According to the Finance Ministry, the granting of this credit is the evidence of efficient implementation of important structural economic reforms in Ukraine.

"The condition for granting this loan is the carrying out of 10 structural reforms by Ukraine, including such reforms as eliminating of tax "pits" via the introduction of the electronic VAT administration system, gas market reforms and the creation of efficient system of control not only over budget expenditures but also revenues, for which the authority of the Accounting Chamber of Ukraine has been enlarged," the ministry reported.

By Ukrinform