Polish Deputy Finance Minister Pawel Karbownik said on Dec. 4 that the European Union is prepared to compensate if the U.S. withdraws from a $50 billion multilateral loan agreement for Ukraine.
Ukraine's Finance Ministry and the EU signed a memorandum and an agreement to attract up to 35 billion euros ($36.7 billion) as part of the G7 loan, the ministry said on Dec. 4.
Ukraine has received a $4.8 billion loan from the World Bank through the PEACE project, Prime Minister Denys Shymhal said on Nov. 27.
"We have taken the step that was outlined in the law to cancel those loans, provide that economic assistance to Ukraine, and now Congress is welcome to take it up if they wish," U.S. State Department spokesperson Matthew Miller said on Nov. 20.
Polish Foreign Minister Radek Sikorski said that Kyiv could buy weapons from Polish factories on credit. The loan could be paid after the country's reconstruction, he added.
"Our aim is to begin disbursing the funds by the end of the year," G7 leaders announced on Oct. 25. The loan will support Ukraine's economic, defense, and reconstruction needs.
Hungary's record loan came amid a record increase in its public debt to 140 billion euros ($152 billion), 73.5% of GDP, and a budget deficit of 6.7% of GDP, while the country has no access to European Union funds due to the conflict with Brussels.
The sum, which Ukraine hopes to receive by the end of the year before a potential return of Donald Trump to the White House, includes a $20-billion pledge by the U.S. and the EU each, Kyodo News wrote.
The U.S. has proposed that a $50 billion loan to Ukraine could be repaid by profits from frozen Russian assets, on the condition that the EU agrees to extend sanctions against Russia until the end of the war, the Financial Times reported on June 5, citing a leaked EU discussion paper.
The executive board of the International Monetary Fund (IMF) approved a third review of Ukraine's $15.6 billion loan program. This decision enables the release of $880 million designated for budget support.
House Republicans are working on their own version of an aid bill to Ukraine to speed up the delivery of assistance to the country, with one version including treating nonmilitary aid to Ukraine as a loan, NBC reported on March 9.
The World Bank on Dec. 17 approved a 300 million euro loan to Ukraine to support reforms and help mitigate the impact of the Covid-19 pandemic. The Economic Recovery Development Policy Loan aims to support the de-monopolization of the economy, strengthen anti-corruption institutions, improve land and credit markets, including access
Ukrainian households borrowed roughly $1.8 billion (Hr 49 billion) in microloans between January and October 2021, according to Opendatabot. That’s $10 million more than in all of 2020. The average loan amounted to $165 (Hr 4,500). These kinds of small loans are heavily advertised on Ukrainian TV
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