Фото: Getty Images
The World Bank has allocated a loan for Ukraine in the amount of 300 million euros
–
–
With this loan, the organization supports key reforms in Ukraine during the pandemic, the WB said in a statement.
The World Bank’s Board of Executive Directors has approved the Second Economic Recovery Policy Loan for Ukraine in the amount of EUR 300 million. This is stated in the release, published on The World Bank’s website.
“These funds will be used to support critical reforms for the country’s economic recovery and growth, as well as to mitigate the impact of the COVID-19 pandemic,” the report said.
With this loan, as emphasized in the release, the World Bank supports key reforms in Ukraine:
-
demonopolizing the economy and strengthening anti-corruption institutions
-
land and credit market development, including increased access to finance for smallholders
-
Strengthening social safety nets for the elderly to mitigate the impact of the COVID pandemic
“With a high level of economic vulnerability in Ukraine, there is a slow and fragile recovery from the coronavirus shocks. We hope this loan will provide the necessary support for those reforms that are aimed at promoting a stronger and more inclusive recovery,” said WB Regional Director for Eastern Europe Arup Banerjee.
The first such loan, worth $ 350 million, was approved in June 2020 to support the launch of land reform in Ukraine, as well as to help ensure agricultural growth and investment in agriculture and for the most vulnerable people during the economic shock caused by the pandemic.
The Development Policy Loan is part of increased World Bank support to address the impact of COVID-19 and complements the approval of additional funding of $ 150 million for the COVID-19 Emergency Response and Vaccination Project in Ukraine, approved on December 10 this year.
Since the beginning of the pandemic, the World Bank has provided Ukraine with $ 2.3 billion for budget support and investment projects. Since 1992, the World Bank has provided loans to Ukraine for $ 13 billion in 70 programs.
Recall the Cabinet of Ministers expects foreign investment at the level of $ 6.5 billion at the end of 2021.
News from Correspondent.net in Telegram. Subscribe to our channel https://t.me/korrespondentnet
– .
