The Cabinet of Ministers of Ukraine at its session on May 7 approved a series of decisions aimed at attracting financial resources from international financial institutions.

To ensure sustainable public administration in Ukraine, the Government has approved projects to raise funds from the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA) worth up to USD 1.5 billion. The funds will be used to implement the project "Support of public expenditures to ensure sustainable public administration in Ukraine."

"Today, Ukraine needs the support of international partners to finance spending that increased significantly during the war. We have held talks with the World Bank and agreed to provide support to government agencies and budgetary institutions in the field of education by partially reimbursing the state budget for wages, "stressed Prime Minister  Denys Shmyhal.

A delegation of Ukraine which will participate in negotiations with the IBRD and IDA on the conclusion of relevant financing agreements was established by a separate decision. The Minister of Finance of Ukraine Serhii Marchenko has been authorized to sign the agreements.

Also, the Government approved the Agreement between the Government of Ukraine and the Government of Japan on attracting a loan from the Japan International Cooperation Agency was approved. Under the agreement, the Government will be able to raise up to USD 100 million (JPY 13 billion ), which will be used to ensure the priority expenditures of the state budget.