November 27, 2024
Ukraine received 4.8 billion dollars from the World Bank - Shmyhal thumbnail
Ukraine News Today

Ukraine received 4.8 billion dollars from the World Bank – Shmyhal

According to the prime minister, in total, during the full-scale war, almost $50 billion was raised through the mechanisms of the World Bank”, — write: www.radiosvoboda.org

Ukraine received 4.8 billion dollars from the World Bank within the framework of the PEACE project, announced Prime Minister Denys Shmyhal.

“This is the largest investment project in the bank’s history, launched to support our state in the implementation of reforms, social and educational spheres, health care spheres, agricultural producers, as well as reconstruction projects,” he wrote in a telegram.

According to the Prime Minister, during the full-scale war, nearly $50 billion was raised through the mechanisms of the World Bank.

Anna Bjerde, the World Bank’s managing director for operational activities, visited Ukraine last week. She met with the President of Ukraine and the Prime Minister. With Shmyhal, Bjerde discussed, among other things, the financing of joint projects of economic reconstruction and development in this and next years.

The World Bank project “Supporting Public Expenditure to Ensure Sustainable Public Administration in Ukraine” (PEACE) provides assistance in paying pensions to the elderly, grants to internally displaced persons, salaries to teachers and emergency workers. The World Bank has put in place a number of mechanisms designed to monitor service delivery and check for fraud and corruption. Funds are transferred to the Government of Ukraine after the World Bank receives proper confirmation of eligible expenses.

PEACE is the World Bank’s main financial instrument for Ukraine, which has enabled other international donors to join forces to provide rapid, targeted and predictable support.

The World Bank has mobilized almost 55 billion US dollars for Ukraine since February 2022, of which almost 46 billion have already arrived (as of November 26, 2024).

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