The World Bank has approved a loan for Ukraine of $1.5 billion, under Japanese government guarantees
Funds will be allocated to assist households and alleviate the consequences of russia's invasion
The Board of Directors of the World Bank has approved a loan of $1.5 billion to Ukraine, to be provided under the guarantees of the Japanese government.
This is stated in a World Bank statement.
"First, it will help to address the needs of the newly poor and displaced because of the war by providing relief to households. Second, it will support reforms to enhance the transparency and accountability of public resources expenditures. Third, it will help markets to function better during and after the war," the statement explains.
Taking this decision into account, the World Bank Group has provided loans to Ukraine amounting to over $37.5 billion for emergency financing in support of the Ukrainian people, including commitments from donors, specifically the USA, Japan, the UK, Norway, the Netherlands, Spain, Germany, Canada, Switzerland, Sweden, Denmark, Austria, Finland, Ireland, Lithuania, Latvia, Iceland, and Belgium.
The parameters of the new loan are not specified in the World Bank's statement.
Background. As reported by Mind, the IMF approved a second tranche of $900 million to Ukraine under the Extended Financing Facility.
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