Subsequent tranche to Ukraine from the World Bank €300 million for developing

by Olha Povaliaieva
Tuesday, December 21, 2021
Subsequent tranche to Ukraine from the World Bank €300 million for developing

€300 million for developing Ukrainian economic reconstruction

The International Bank for Reconstruction and Development is doing everything possible to hold up Ukraine in becoming stronger after changing international relations with some countries, the coronavirus epidemic. Therefore, the international financial organization in 2021 allocated another large sum of money to Ukraine. The amount of the new tranche is €300 million.

The main factor that allowed the state allocation of money was the important reforms that Ukraine wants to carry out. The IBRD is holding up such reforms as:

  • Breaking up existing economy monopolies and strengthening of anti-corruption institutions;
  • Enlargement of the farmland market;
  • Boosting debt market (taking into account increasing access to finance for smallholder farmers);
  • Strengthening social safety nets to support older people in the fight against the pandemic.

In 2020, the IBRD granted a loan of $350 million. The amount was accepted to support farmstead reform and assist the Ukrainian authorities in ensuring the growth of the agricultural sector. This amount should have been enough for expenditure in agronomics.

On December 10, 2021, another $150 million supplementary funding was confirmed. This tranche will be entirely used for the Emergency footing to the COVID-19 program and immunization in Ukraine.

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