The World Bank has approved the allocation of 2.05 billion dollars to Ukraine. Of them, one billion is from the fund, which is replenished with revenues from the frozen assets of the Russian Federation. The money is intended for financial stability, implementation of reforms and promotion of investments.
"The Board of Executive Directors of the World Bank adopted the Development Policy Program (DPO) for Ukraine with the aim of strengthening the basis of economic policy for sustainable growth and improving financial stability," the message states.
As reported by the World Bank, the operation involves the allocation of 1.05 billion dollars using the resources of the International Bank for Reconstruction and Development, credit enhanced through the Ukrainian Trust Fund Advancing Needed Credit Enhancement (ADVANCE) with the support of Japan and the United Kingdom. The operation is also co-financed by a one billion dollar grant from the Fund for Facilitation of Resources for Investments in Strengthening Financial Intermediation of Ukraine (FORTIS Ukraine FIF).
The DPO program is aimed at supporting reforms in Ukraine with the aim of strengthening the country's economic potential and improving macro-financial stability. This initiative supports the government's efforts to increase Ukraine's GDP per capita in order to approach the EU level and strengthen the state's economic independence.
