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Ukraine signs $4.8 billion loan with World Bank under PEACE project

World Bank Operations Manager for Eastern Europe Kevin Tomlinson and Ukraine Finance Minister Sergii Marchenko sign a loan agreement on Nov 22 in Kyiv (Photo from Ukraine's Finance Ministry)

Ukraine's Finance Ministry said it has signed a $4.8 billion loan agreement with the World Bank under the lender's Public Expenditures for Administrative Capacity Endurance (PEACE) project. 

The loan, to be financed by the US and other development partners, will be used for priority social budget expenditures, the ministry said in a press release on Friday.

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