Ukraine Receives EUR 300 million from World Bank to Continue Economic Recovery Projects

On 20 December, the Minister of Finance of Ukraine Sergii Marchenko and the World Bank Regional Director for Belarus, Moldova, and Ukraine Arup Banerji signed an agreement on a EUR 300 million loan for Ukraine to continue the implementation of economic recovery projects (Second Economic Recovery Development Policy Loan - DPL).

The loan is the result of the implementation of structural reforms in the fields of demonopolization of the key sectors of the economy, strengthening of anti-corruption institutions, improvement of land and capital markets, improvement of social support system.

Sergii Marchenko thanked the IBRD representatives for the cooperation and financial support of Ukraine. He noted that the signing of the Agreement is evidence of the fact that Ukraine shows the real results of reforms on the way of economic rehabilitation and development.

As part of further cooperation between Ukraine and the IBRD, the World Bank's Country Partnership Strategy for 2022-2025 is being developed with the aim of achieving sustainable economic recovery and growth in Ukraine. The priority areas of the strategy will be the energy and agrarian sectors and the transport system.

In June 2021, Ukraine received the first part of a loan from the IBRD (USD 350 million) for development policy in the field of economic recovery.