World Bank approves $1.5 billion USD allocation to Ukraine

The World Bank’s Board of Directors approved the decision to allocate 1.5 billion dollars to Ukraine as Growth Foundations Development Policy Loan (DPL), Ukrainian Prime Minister Denys Shmyhal reported on March 26.

Read also: Zelenskyy signs law unlocking World Bank’s $1.5 billion development loan to Ukraine

The funds are expected to be transferred to Ukraine by the end of March and will be provided under a USD 984 million guarantee from the Government of Japan through the World Bank’s ADVANCE Ukraine Trust Fund and a USD 516 million guarantee from the United Kingdom.

“The funds raised will be used to support the State Budget of Ukraine and economic recovery, as well as to finance priority social and humanitarian expenditures of the State Budget,” Ukrainian Finance Minister Serhii Marchenko said.

Read also:

• EU provides Ukraine with almost $5 billion aid tranche — Borrell

• Economy Ministry unveils four-year reform plan in exchange for EU's €50B aid program

Ukrainian President Volodymyr Zelenskyy officially signed a law that strengthens the National Securities and Stock Market Commission (NSSMC) on March 25, being a critical step for Ukraine to receive a substantial $1.5 billion development loan from the World Bank.

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