The funds will be provided under Japanese government guarantees and will be used to strengthen social protection and economic recovery.
Ukraine will receive a $1.5 billion loan from the World Bank to support recovery and development. The decision was approved by the Bank’s Board of Executive Directors, Prime Minister Denys Shmyhal said on Telegram on Friday, June 30.
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“The funds will be provided under the guarantees of the Japanese government and are aimed at strengthening social protection and economic recovery. In particular, the loan will help support subsidies for IDPs and pension payments,” wrote the head of government
The World Bank website confirmed the allocation of funds.
“The World Bank will continue its strong support to help Ukraine rebuild and build a stronger economy,” Antonella Bassani, Vice President for Europe and Central Asia, said in a statement.
Earlier, Finance Minister Sergei Marchenko said that since the start of the war, the World Bank has mobilized $34 billion to support Ukraine, and Kyiv has already received more than $22 billion of this amount.
Yesterday it became known that since the beginning of the war, Ukraine has received 170 billion euros in aid. This amount includes military, financial and humanitarian aid from 40 states, as well as European institutions, the IMF and the World Bank.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.