Ukraine will receive USD 1.5 billion from Japan through the World Bank

On June 29, the Board of Executive Directors of the World Bank approved the USD 1.5 billion Ukraine Relief and Recovery Development Policy Loan (DPL). 

Funds is guaranteed by the Government of Japan through the Advancing Needed Credit Enhancement for Ukraine Trust Fund (ADVANCE Ukraine). The term of the loan is 33 years, on concessional terms.

“Japan and the World Bank are key partners of Ukraine, providing us with support from the first days of the full-scale russian invasion. Funds from partners will be directed to financing expenditures to meet the needs of the most vulnerable categories of citizens. I am grateful to the Government of Japan and the World Bank Board of Executive Directors for an important decision that will help support the country's financial stability. We expect to receive these funds in the near future,” said Minister of Finance of Ukraine Sergii Marchenko.

The funds will be directed to strengthening the social protection system in Ukraine. In particular, to provide assistance to the most vulnerable sections of the population through the implementation of reforms that eliminate potential exclusions for IDPs in the program of Housing and Utility Subsidy, as well as to ensure the effective administration of pensions for citizens.

The loan funds will be directed to the recovery of the economy, as well as to strengthening the accountable and transparent use of public resources.