Daily Management Review

World Bank implements $27B worth of projects in Ukraine


The World Bank and the Ukrainian Finance Ministry have updated their project portfolio which consists of 20 projects totaling $20 billion in grant money, €1 billion in loan monies, and five projects worth $5.5 billion.

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It was the first portfolio modification since 2021, said Gevorg Sarkisyan, head of the Ukrainian office of the World Bank, and deputy finance minister of Ukraine Olga Zykova. 

The parties decided on the action plan for the upcoming time after discussing and planning the execution of cooperative initiatives. The World Bank's current project portfolio has the biggest volume of any time during the years of partnership, according to the Ukrainian Ministry of Finance.

After Russian forces entered Ukraine, the World Bank considerably expanded its assistance to the nation. It set aside $1.75 billion in June for pensions and social assistance, as well as for health care, education, and pay for public sector personnel; $200 million in April for energy recovery; and $500 million in October 2022 under UK assurances.

source: reuters.com