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World Bank approved a $500 mln loan for Ukraine
11:53, 26 August 2015
World Bank approved a $500 mln loan for Ukraine

The funding is a part of the second Development Policy Loan project

11:53, 26 August 2015

world bank
peoplegreece.com

The latest World Bank press release announced about new $500 mln international loan for Ukraine. This funding is to boost country's reforms, improve its public sector governance, business environment, energy, and social assistance.

“The package of reforms supported by this operation will help address the deep-rooted structural problems that have contributed to Ukraine’s current economic crisis,” said Qimiao Fan, World Bank Country Director for Belarus, Moldova, and Ukraine. “We are helping Ukraine to implement an urgent set of measures, which will be essential to stabilize the economy, provide quality services to all Ukrainians and return the country to a sustainable growth path.”

This operation is the second World Bank’s project to support the recovery of Ukraine and fasilitate its economy. It is a part of the Bank Group’s broader financial support package announced in February this year, which aims to provide Ukraine with up to $2 bln in 2015. The $750 mln First Multi-Sector Development Policy Loan was disbursed in May 2014. 

Related: Ukraine has paid coupon on 2011 Eurobonds in $60mln

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