Ukraine will receive $2 billion from the World Bank: part of it from the US at the expense of Russian frozen assets

The World Bank will provide Ukraine with $2 billion through the DPL mechanism. $1 billion will come as a grant from the United States, and another $1.05 billion as a loan guaranteed by Japan and Britain, Ukrainian Prime Minister Denys Shmyhal said on Friday in Telegram, UNN reports.

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“Ukraine is starting to receive the first US funds from frozen Russian assets. The World Bank will provide $2 billion through the DPL mechanism. The Bank’s Executive Board approved the allocation of funds the day before. Today, the Ministry of Finance of Ukraine signed the relevant agreements with the World Bank. In particular, $1 billion will be provided in the form of a non-repayable grant from the World Bank’s FIF fund at the expense of the US contribution under the G7 initiative. Another $1.05 billion will be received in the form of a loan guaranteed by the governments of Japan and the United Kingdom,” Shmyhal wrote.

According to him, “Ukraine has taken all the necessary measures to receive the funds.” “We are grateful to our partners for their support on the path of economic development and reconstruction,” the Prime Minister said.

EU economic chief open to confiscation of frozen Russian assets – BloombergDec 20 2024, 08:12 AM • 16271 view