World Bank approves USD 1.5 billion loan for Ukraine

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.