Ukraine receives $350 mln from World Bank, - Ministry of Finance

Source : 112 Ukraine

Funds were provided within the project "First Economic Recovery Development Policy Loan"
20:18, 2 July 2021

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.

Related: Ukraine could get 600 mln euros of macrofinancial aid from EU, - official

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.

Related: Biden administration should send lethal aid to Ukraine immediately, - US Armed Services Committee

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