The World Bank Will Provide Ukraine With €500 Mln

by Olha Povaliaieva
Friday, April 29, 2022
The World Bank Will Provide Ukraine With €500 Mln

And an additional €495 million grant from the World Bank’s Trust Fund

The amendment was signed by Serhii Marchenko, minister of finance of Ukraine, and Arup Banerjee, regional director of the World Bank. The €495 grant will be granted jointly by Norway, Austria, and the United States, to the terms of the agreement.

"The grant will be directed to the general fund of the state budget of Ukraine to provide priority social, humanitarian expenses, health care expenses, support of internally displaced persons," the World Bank reports.

Contributions to the trust fund have been made by Denmark, Iceland, Latvia, Lithuania, the United Kingdom, Norway, Austria, and the USA. The Foundation was founded by the International Bank for Reconstruction and Development and the International Development Association.

We would like to remind you that on April 29 we received a grant of €88,5 million from the World Bank's Trust Fund. The funds were directed at the economic recovery of Ukraine.

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