World Bank approves EUR 300M loan to support reforms in Ukraine

“The World Bank’s Board of Executive Directors approved today a EUR 300 million Second Economic Recovery Development Policy Loan (DPL) for Ukraine in support of reforms critical to the country’s economic recovery and growth, and to help mitigate the impacts of the COVID-19 pandemic,” reads the World Bank’s statement released on December 17.

“Amid high levels of economic vulnerability, a slow and uneven recovery from the COVD-19 shock is underway in Ukraine, and we hope this loan will provide the necessary support to reforms aimed at fostering a stronger, more inclusive recovery,” said Arup Banerji, World Bank Regional Country Director for Eastern Europe.

“We expect these reforms will help increase living standards by allowing some 4.6 million small landowners in Ukraine to get a fair return on, and invest in, their most valuable asset,” Banerji added.

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