Zelensky’s aid, World Bank VP discuss $350 million loan to Ukraine

Source : 112 Ukraine

The loan should help Ukraine soften the effects of the Covid-19 pandemic
12:41, 9 July 2020

Head of the Office of the President of Ukraine Andriy Yermak had a telephone conversation with World Bank Vice President for Europe and Central Asia Anna Bjerde. This was reported by the press service of the Presidential Administration.

"The parties discussed the provision of 350 million dollars to Ukraine within the framework of the ‘First Economic Recovery Development Policy Loan project’," the statement said.

Related: National Bank comments on actual decline of Ukrainian economy

It is emphasized that this loan will be used to support reforms that are critical to economic recovery. The loan should also help Ukraine mitigate the effects of the Covid-19 pandemic.

In addition, Yermak and Bjerde discussed Ukraine’s land reform and corporate administration reform.

As we reported earlier, the World Bank has appointed Arup Banerji as a new Country Director for Belarus, Moldova, and Ukraine.

According to the press release, Banerji will lead the Bank’s engagement with governments, stakeholders, and partners in all three countries. He will also work with the World Bank’s sister institutions – IFC and MIGA, in order to strengthen World Bank Group delivery in Belarus, Moldova, and Ukraine.

Related: Resignation of National Bank’s governor derails transaction of decade, - official


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