The World Bank will allocate $1.5 billion to Ukraine for the Growth Foundations Development Policy Loan (DPL) from Japan and Great Britain through the World Bank mechanism.
The World Bank provides funds to Ukraine
The Ministry of Finance reports that $984 million will be provided under Japan's guarantee through the World Bank Trust Fund (ADVANCE Ukraine) and $516 million under Great Britain's guarantee.
It is expected that the funds will reach the State Budget of Ukraine by the end of March this year.
Ukraine's Minister of Finance, Serhiy Marchenko, noted that the World Bank, Japan, and Great Britain are vital partners of Ukraine, providing unprecedented support from the first days of the full-scale invasion.
The funds raised will be directed to support the State Budget of Ukraine and the recovery of the economy, financing of priority social and humanitarian expenditures of the state budget.
What is the DPL project?
The DPL project (Growth Foundations Development Policy Loan — DPL) is a systemic project aimed at supporting the implementation of reforms in Ukraine, and the funds are credited to the general fund of the state budget in a single tranche based on the results of tasks completed before its signing.
The main directions of the reforms concerned:
improvement of corporate governance,
stimulation of renewable energy generation,
introduction of agrarian notes as a new tool for obtaining financing by farmers,
strengthening the financial sector by improving business access to financinfundingthe "5-7-9 Affordable Loans" program).
implementation of customs and tax experience of the EU to Ukrainian legislation,
improvement of fiscal policy and regulation of capital markets,
ensuring transparency and accountability of customers in the electronic procurement system.
