The World Bank will allocate 350 million U.S. Dollars assistance to Ukraine aimed to contribute to economic development during the pandemic. This was announced by Denus Shmygal, Prime Minister of Ukraine in his Telegram channel
He also informed the public where the bank's funds will be sent.
The Cabinet of Ministers and the World Bank signed an agreement for USD 350 million, Shmygal said.
"The funds will be used to develop the economy during the pandemic, provide social support to vulnerable groups of the population and strengthen state institutions," the Prime Minister stated.
He added that Ukraine will be able to implement systemic projects for the fair development of the land market, continue the reform of the gas sector, and also strengthen the credit market.
We would like to remind you that Kyiv has managed to make significant progress in negotiations with the International Monetary Fund and Ukraine has a high chance of receiving another IMF tranche.