HomeLatestWorld Bank sends $1.5 billion to Ukraine

World Bank sends $1.5 billion to Ukraine

Kiev can also be anticipating one other $2 billion from Japan following the most recent fee assured by Tokyo

The World Bank has transferred $1.5 billion to Kiev by way of the Advancing Needed Credit Enhancement for Ukraine Trust Fund, the Ukrainian Finance Ministry introduced on Thursday.   

“The funds raised will be directed towards economic recovery and strengthening social security for the population,” Finance Minister Sergey Marchenko was quoted as saying.   

The switch was carried out below assure from the Japanese authorities.   

“I am grateful for the continuous support of Ukraine by the Japanese government during their presidency in the G7, as well as the World Bank team,” Marchenko added.   

The ministry famous that because the launch of Russia’s navy operation in opposition to its neighbor, Kiev has acquired greater than $581 million in monetary help via the Japan International Cooperation Agency. 

According to the ministry, the Ukrainian authorities count on to obtain one other $2 billion from Tokyo for direct finances help by way of the World Bank’s ADVANCE fund.   

READ MORE: EU refuses to subsidize Ukrainian grain exports – Reuters

Last week, the Washington-based establishment mentioned it could mobilize extra help of $1.76 billion to the conflict-torn nation. The funds will reportedly be allotted for state salaries and pension funds, in addition to help for probably the most weak teams of the Ukrainian inhabitants.

For extra tales on financial system & finance go to RT’s enterprise part