(Finance) – Ukrainian Finance Minister Sergii Marchenko and Regional Director of the World Bank for Ukraine, Belarus and Moldova, Europe and East Asia Arup Banerji signed the loan agreement of 1.5 billion dollars for Ukraine to support the country’s development policy.
“The funds will be provided under the guarantee of the Government of Japan through the World Bank Trust Fund (Advance Ukraine) in the amount of $984 million, nas well as under the guarantee of the United Kingdom in the amount of 516 million dollars,”
“The effective work of the government, together with the timely support of our partners, allows us to maintain the stability of the financial system, despite large-scale aggression and daily Russian terror. I am grateful to Japan, the United Kingdom and the team from the World Bank, who have been standing by Ukraine since February 2022. The raised financing will be used to support key priorities of the state budget,” said Ukrainian Finance Minister Sergii Marchenko.
Ukraine had to fulfill eight requirements under the program, including harmonizing Ukraine’s customs and tax legislation with EU standards, improving tax policy and capital market regulation, and ensuring transparency and responsibility nthe e-procurement system.
Last March 26, the Board of Directors of the World Bank approved the DPL loan, today lsigned.