Ukraine receives over US$3 billion from World Bank

Ukraine's state budget has received US$3.35 billion under the First Ukraine Jobs and Private Sector Growth Development Policy Operation, implemented jointly with the World Bank.

Source: Prime Minister Yuliia Svyrydenko

Details: Ukraine and the World Bank signed the agreement on 24 June on the sidelines of the Ukraine Recovery Conference in Gdańsk.

The funds will be used to support macroeconomic stability and finance priority state budget expenditures under martial law.

To meet the programme's requirements, Ukraine adopted 13 laws and seven secondary legislative acts.

The funding will be used, among other things, to improve the public procurement system, develop factoring, integrate Ukraine's energy markets with the EU, transform the agricultural sector, support veteran entrepreneurship, develop housing policy, modernise pre-school and vocational education, and restore the greenhouse gas emissions environmental monitoring system.

The next stage of the programme envisages attracting an additional US$1 billion by the end of 2026 once the required conditions have been met.

Part of the financing has been backed by guarantees from the governments of the UK and Japan.

Background: Ukraine's Ministry of Health and the World Bank signed an agreement providing an additional US$444 million in funding for the THRIVE healthcare reform programme.

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