The decision was announced during a meeting between Ukraine's Finance Minister Serhiy Marchenko and the World Bank Regional Country Director for Eastern Europe (Belarus, Moldova and Ukraine) Arup Banerjee in Kiev.
In the discussion themed "Emergency response to COVID-19 and vaccination in Ukraine," Banerjee said the bank is ready to allocate 230 million U.S. dollars to Ukraine to help the country battle the pandemic.
They discussed Ukraine's financial and banking sector reforms, the implementation of pension reform in Ukraine and the conditions for obtaining the "Second Development Policy Loan in the Field of Economic Recovery."
In June, Ukraine's Finance Ministry signed an agreement with the World Bank to provide Ukraine with a loan worth 350 million U.S. dollars for the "First Development Policy Loan in the Field of Economic Recovery" project, which was part of the World Bank's stepped-up support for Ukraine to address the impacts of COVID-19.
Since 1992, the World Bank, one of Ukraine's largest lenders and investors, has implemented over 80 projects and programs worth 14 billion U.S. dollars in the country.
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