The funds will be transferred by the end of March.
Board of Directors of the World Bank Bank approved the decision to allocate $1.5 billion to Ukraine as part of a Development Policy Loan (DPL).
The Prime Minister of Ukraine announced this Dmitry Shmigal.
“Of these, $984 million will come from Japan and $516 million from the UK. We expect that the funds will be transferred by the end of March,” he said.
The Prime Minister noted that these resources will be used to cover the most important budget expenditures: for social, humanitarian purposes and restoration.
In turn, the head of the Ministry of Economy Sergei Marchenko statedthat the funds raised will be used to support the State Budget of Ukraine and economic recovery, financing priority social and humanitarian expenditures of the state budget.
“The World Bank, Japan and the UK are key partners of Ukraine, providing unprecedented support from the first days of the full-scale invasion “Given the challenges caused by Russia's large-scale armed aggression, meeting the needs of our citizens is a priority of the Ukrainian Government. The funds raised will be used to support the State Budget of Ukraine and economic recovery, financing priority social and humanitarian expenses of the state budget,” said Minister of Finance of Ukraine Sergei Marchenko.< /p>
We recall that it was previously reported that Ukraine received the fourth tranche of financing in the amount of about 880 million from the IMF under the Extended Fund Facility (EFF) program.
In addition , we previously informed that the mayor of Kharkov said how much money is needed to restore critical infrastructure and city buildings.