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Espreso Global World about Ukraine World Bank approves USD 1.5 billion loan for Ukraine

World Bank approves USD 1.5 billion loan for Ukraine

30 June, 2023 Friday

14:07

World about Ukraine

The World Bank has approved a USD 1.5 billion loan to Ukraine. The funds will be used to pay payments to internally displaced persons and pensions

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This was announced by the Prime Minister of Ukraine Denys Shmyhal.

"Ukraine will receive a USD 1.5 billion loan from the World Bank to support recovery and development. The decision was approved by the Board of Executive Directors of the Bank," he wrote.

According to Shmyhal, the funds will be provided under the guarantees of the Japanese government and will be used to strengthen social protection and economic recovery in Ukraine.

"In particular, the loan will help support subsidies for IDPs and pension payments," the Prime Minister said.

In March, the World Bank estimated Ukraine's economic recovery at USD 411 billion.

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