Ukraine Secures $1.5 Billion from World Bank to Support Reconstruction and Recovery
The IMF's loan review showed that Ukraine has achieved significant progress in its economic recovery efforts, allowing Kyiv to withdraw $890 million for budget support. This loan, combined with the World Bank's $1.5 billion, will help Ukraine to continue to rebuild and recover from the conflict.
The World Bank's loan is expected to help the country improve its social security system, create jobs, and finance infrastructure repairs. The World Bank has already provided Ukraine with over $4 billion in support since 2015. It is also helping to modernize the country's energy sector by building new power lines and upgrading existing power plants.
The loan from the World Bank will help Ukraine to take the next steps in its recovery. Prime Minister Shmyhal said the funds will help support social security and economic development. The loan will provide subsidies for internally displaced people and pension payments, and finance infrastructure repairs. It will also help the country to modernize its energy sector and create jobs.
The IMF's loan review showed that Ukraine has achieved significant progress in its economic recovery efforts, allowing Kyiv to withdraw $890 million for budget support. This loan, combined with the World Bank's $1.5 billion, will help Ukraine to continue to rebuild and recover from the conflict.