KYIV, Aug 16 - The World Bank at the request of the Ukrainian authorities is preparing a policy-based guarantee (PBG) to support key policy and institutional reforms to promote economic growth, fiscal sustainability, and improved governance.

"Once appraised and approved, the proposed operation would provide a $650 million IBRD guarantee that is expected to help Ukraine raise about $800 million through a private transaction in the lending market," a report on the bank's Facebook page reads.