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Social Impact Bond (SIB) after the Bank of Lithuania invested €100M, the CEB said. In April this year, the bank launched social impact bonds in response to the refugee crisis caused by the war in Ukraine to help its member states supportmns of people seeking safety. The collected funds will go mainly to help Ukrainian refugees in various countries. The Chairman of the Board of the Bank of Lithuania, Gediminas Shimkus, also announced the release of a silver collector's coin at the end of the year, the proceeds from the sale of which will be directed to Ukraine’s needs.
The World Bank will create a $17B trust fund for Ukraine. The World Bank is already working on fundraising and plans to create a new $17B trust fund at Ukraine's request, which is needed for urgent reconstruction by the end of 2023. According to Roman Kachur, deputy director for Ukraine at the World Bank, the symbolic name of the fund will be MRIya - Multidonor trust fund for recovery and institution and infrastructure. He also noted that a report, "Rapid Assessment of Damage and Needs in Ukraine," determined that in the next 18-36 months, Ukraine will need $105B for reconstruction. But this is an unaffordable amount for either donors or the government, so the Cabinet of Ministers identified the highest priority that needs to address with the $17B. Trust funds should perform as a multiplier so that for every $1 provided by donors, Ukraine could receive $2-$3. Kachur specified that fund collection began on September 9.
The US Administration will provide $2.2bn to Ukraine and its 18 neighbor states within the Foreign Military Financing (FMF) program, US Secretary of State Antony Blinken said in September.
The EU Council has decided to approve the proposal of the European Commission to allocate the second tranche of macro-financial assistance to Ukraine worth EUR 5bn out of the remaining EUR 8bn, the website of the Ministry of Finance of the Czech Republic chairing the EU statements.
Ukraine will receive $530M from the IBRD for salaries and pensions. The government has decided to seek additional financing in the amount of $530M as part of implementing a joint project with the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). The loan will be provided on preferential terms under the guarantees of Great Britain and Denmark, with a repayment period of 19 years with a five-year grace period. The interest rate is 0.25% per annum (charged on the unused part of the loan). The funds will be used to pay for public sector employee salaries, provide pension payments, and funding for several state social assistance programs: payment of housing and communal services, support for low-income families, disabled children, etc.
IMF allocates additional $1.4bn to support Ukraine. On Sept. 13, President Volodymyr Zelenskiy said he had a phone conversation with Kristalina Georgieva, managing director of the International Monetary Fund, and discussed "future cooperation to increase Ukraine's financial stability.”
The EU has talked about allocating an additional €3B to Ukraine.
European Commissioner for the Budget Johannes Khan hopes that the EU will give an additional €3B to Kyiv by the end of the year. This money is planned to be provided in the form of grants, Radio Svoboda reports. Khan added that the provision of additional funds is already being discussed. The European Commissioner is convinced that the EU member states will decide on their
38 UKRAINE Country Report October 2022 www.intellinews.com