Ukraine has received a $350 million loan from the World Bank (WB) for the systemic project "First Economic Recovery Development Policy Loan." This was reported on the website of the Ministry of Finance of Ukraine.
"UAH 9.6 billion (USD 350 million) of IBRD loan proceeds for the systemic project First Economic Recovery Development Policy Loan," the statement says.
Ukraine and the World Bank signed an agreement on providing Ukraine from the International Bank for Reconstruction and Development (IBRD) a loan in the amount of $350 million, which should be used to develop the economy during a pandemic, provide social support to vulnerable groups of the population and strengthen public institutions.
Last time, the World Bank approved the allocation of a $ 300 million loan to Ukraine to overcome the consequences of the Covid-19 pandemic and provide social support to the population at the end of 2020.
Besides, the World Bank approved a $200 million project aiming for support to Ukraine’s government on the improvement of efficiency, quality, and transparency of the higher education system.