Ukraine Signed a Package of Agreements with the World Bank Worth $3.39 Billion: Funds Will Be Allocated to Key State Needs
Ukraine and the World Bank signed a package of agreements totaling $3.39 billion under the First Development Policy Operation (DPO) Program for Job Creation and Private Sector Growth. This was announced by Prime Minister Yuliia Svyrydenko.
According to her, the documents were signed by the Ministry of Finance of Ukraine and the World Bank on the sidelines of the Ukraine Recovery Conference (URC). The attracted funds will be directed to support the country's macro-financial stability and finance priority expenditures of the state budget.
The package of agreements includes:
- $1.04 billion in development policy loans, of which $500 million are guaranteed by the United Kingdom and another $540 million by Japan;
- $2.35 billion in grant financing from the F.O.R.T.I.S. Ukraine FIF Fund.
As noted by the head of government, the conclusion of the agreement became possible after Ukraine fulfilled the program conditions. For this, 13 laws and 7 subordinate acts were adopted, relating to public procurement, factoring, integration of the energy market with the EU, development of the agricultural sector, veteran entrepreneurship, housing policy, preschool and vocational education, as well as the restoration of the greenhouse gas monitoring system.
Additionally, during a meeting with World Bank President Ajay Banga, the parties discussed further cooperation. According to Svyrydenko, work is ongoing on the concept of the "Economy of the Future" — a long-term strategy for the development of the Ukrainian economy after the war ends.
Among the priority areas are also the development of modern housing policy, including scaling up affordable mortgages, as well as phased and transparent privatization involving strategic investors.
The Prime Minister thanked the World Bank, Japan, and the United Kingdom for supporting Ukraine, as well as the government and the Verkhovna Rada for implementing the necessary reforms that made these agreements possible.
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