World Bank to allocate $230M to Ukraine to fight COVID-19 by Dec

The World Bank is ready to allocate $230 million to Ukraine by December 2021 as part of the COVAX initiative, the Ukrainian Finance Ministry's press service has reported.

According to the report, a meeting was held between Finance Minister Serhiy Marchenko and World Bank Regional Director for Belarus, Moldova and Ukraine Arup Banerji.

"The parties discussed the project 'Ukraine Emergency COVID-19 Response and Vaccination.' Arup Banerji noted that the Bank is ready to allocate $230 million to Ukraine by December 2021 under the COVAX global initiative," the report said.

Both parties also discussed the allocation of additional funding to combat the COVID-19 pandemic, financial and banking sector reforms, the implementation of pension reform in Ukraine and the conditions for obtaining a Second Economic Recovery Development Policy Loan (DPL).

A $350 million loan agreement between Ukraine and the International Bank for Reconstruction and Development (IBRD) was signed in June 2021 for the First Economic Recovery Development Policy Loan.

Photo: Finance Ministry's press service

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