“The Executive Board of the World Bank on Wednesday, December 18, approved the allocation of 2.05 billion dollars to Ukraine, part of which will be the first loan to the United States at the expense of Russia’s frozen assets. Source: “European Truth” with reference to the press release of the World Bank.”, — write: www.pravda.com.ua
Source: “European Truth” with reference to the press release of the World Bank.
Details: The new financial assistance to Ukraine includes a $1.05 billion loan that Ukraine will receive through the Trust Fund for Ukraine (ADVANCE) with the resources of the International Bank for Reconstruction and Development.
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The remaining $1 billion is a grant from the World Bank Fund “Facilitating the attraction of resources for investments in strengthening financial intermediation in Ukraine” (FORTIS Ukraine FIF).
It is to this fund that the US previously transferred 20 billion dollars, secured by the income from frozen Russian assets.
The new tranche of the World Bank “is aimed at supporting the government of Ukraine in the implementation of reforms that will strengthen the country’s economic potential and improve macro-financial stability,” the press release states.
Among other things, the funds will be directed to the Ministry of Finance of Ukraine for budgetary support, as well as for political reforms aimed at strengthening economic stability and promoting structural shifts towards sustainable growth.
These are measures aimed at strengthening competition in the railway sector, promoting the production of renewable energy, increasing lending to agriculture and streamlining the state’s participation in the banking sector.
We will remind, on December 10, the day before, the USA announced the allocation of 20 billion dollars in favor of Ukraine to a special fund of the World Bank.
This is part of the Group of Seven’s plan to provide Ukraine with 50 billion euros at the expense of Russian assets: the funds will be provided formally as a loan, but will be repaid with a tax on excess profits received from frozen Russian assets.