The World Bank's Board of Executive Directors on December 20 approved a $10 million Additional Financing loan for the Development of the State Statistics System for Monitoring the Social and Economic Transformation Project in Ukraine.

The bank's statement reads that the loan will be allocated for 16 years with a grace period of seven and a half years with a reference to LIBOR rate.

An agreement with the World Bank on a loan of $32 million for the statistics development project was signed in July 2004. It took effect in June 2005. The loan has to be repaid by February 15, 2024.

According to the 2013 national budget, the Ukrainian government is expecting to receive $660,000 of the first loan, and $9.22 million of the extra loan.



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