World Bank approved USD 14.4B and EUR 2.1B worth of loans for Ukraine over 30 years

Over the past 30 years, the World Bank has approved 70 loans worth USD 14.4 billion and EUR 2.1 billion for Ukraine, of which USD 11.8 billion and EUR 1.2 billion had already been received.

The relevant statement was made by the Ukrainian Finance Ministry, an Ukrinform correspondent reports.

“Among the international credit and financial organizations, the International Bank for Reconstruction and Development (IBRD) is Ukraine’s second creditor after the International Monetary Fund (IMF). Over 30 years of fruitful cooperation, the World Bank has approved 70 loans for Ukraine, totaling more than USD 14.4 billion and EUR 2.1 billion, of which USD 11.8 billion and EUR 1.2 billion had already been received,” the report states.

From the first days of Russia’s war against Ukraine, the World Bank provided unprecedented assistance to Ukraine. In March 2022, an additional aid package worth more than EUR 500 million was approved and directed to the general fund of Ukraine’s state budget to cover the urgent social and humanitarian costs. During martial law in Ukraine, the World Bank approved three loans, totaling EUR 1.85 billion and USD 91.16 million.

In addition, to provide support to Ukraine during the war, the World Bank created a new effective financial mechanism: the Trust Fund of many donors, which helped to raise EUR 1.088 billion and USD 7.5 billion in grant funds from the United States, the United Kingdom, Denmark, the Netherlands, Austria, Norway, Lithuania, Latvia and Iceland.

The financial resources received from the World Bank are used as financial and technical support for Ukraine’s state budget and help the country to implement institutional and structural reforms, as well as long-term investment projects in the priority economic development sectors.

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