KIEV, Aug. 26 – The World Bank’s Board of Executive Directors approved an Additional Financing loan to Ukraine in the amount of $150 million for the Second Export Development Project (EDP 2).

The loan will be provided to Ukreximbank as a LIBOR-based flexible variable spread loan repayable in 30 years, including a six-year grace period, and will be provided a state guarantee by Ukraine.

"Ukraine needs more competitive and diversified exports to sustain economic growth in these volatile global times. This project was a key source of financing for exporters during the crisis. By providing additional financing now, we hope to extend its impact into a lasting recovery," said Martin Raiser, World Bank Country Director for Ukraine, Belarus and Moldova.