Ukraine will receive more than USD 700 million from World Bank

The World Bank approved an additional support package for Ukraine of more than USD 700 million.

The World Bank's Board of Executive Directors approved over USD 489 million of the Development Policy Loan, called Financing of Recovery from Economic Emergency in Ukraine (FREE Ukraine) between Ukraine and the International Bank for Reconstruction and Development. 

In particular, a loan from the World Bank will amount to USD 350 million, and

credit guarantees from the Netherlands and Sweden will amount to USD 139 million.

The World Bank has created a multi-donor Trust Fund with contributors UK, Denmark, Latvia, Lithuania, and Iceland. The size of the fund is USD 134 million in grant money.

In addition, Japan will provide a USD 100 million loan of parallel financing.

"Once again we see that the world is with Ukraine. And I thank our international partners for helping us maintain macrofinancial stability during a difficult time of war," said Sergii Marchenko.

The IBRD loan is provided to cover financial needs arising from the war, in particular, to protect the fixed costs of critical public and social services and to maintain the pace of reforms under the terms of the Second Economic Recovery Development Policy Loan.