The World Bank announced on Thursday new help for Ukraine worth $1.5 billion (about 1,380 million euros) and this will be subsidized by Japan. This new loan aims to “meet the needs of the newly poor and displaced by war”, “support reforms to improve transparency and accountability of public spending” and “help markets work better during and after the war”.
“Since February 2022, the World Bank has been working tirelessly with the international donor community to provide emergency financing that helps the Government of Ukraine keep children in school, keep hospitals open and provide essential government functions,” said the European and Middle Vice President. said. Asia Antonella Bassani from the World Bank gathered a statement in her statements. “Ukraine, in turn, showed a tremendous endurance against Invasion of Russia. We congratulate the Government for undertaking difficult reforms during a war, taking into account its future and the country’s long-term development gains. “The World Bank will continue to provide its unwavering support to help Ukraine recover and rebuild an even stronger economy,” Bassani said.
Since the beginning of the invasion, the party has provided more than $37.5 billion (about 34 billion euros), which has served to support around 13 million Ukrainians. Money lending countries include the United States, Japan, United Kingdom, Norway, Netherlands, Spain, Germany, Canada, Switzerland, Sweden, Denmark, Austria, Finland, Ireland, Lithuania, Latvia, Iceland and Belgium.
The money will go to the Public Expenditure on Resilience of Administrative Capacity (PEACE) Project in Ukraine, which the World Bank reports to have contributed. total 19.7 billion dollars (18.2 billion euros) Ukraine’s Relief, Recovery, Reconstruction and Reform Trust Fund (URTF) for those who need it most and catering to the needs of sectors such as transport, energy and health.