Ukraine to receive USD 454 million from World Bank for healthcare project
The leadership of the Ministry of Finance of Ukraine, the Ministry of Health of Ukraine and the World Bank have signed financial agreements totaling USD 454 million for a new systemic project Transforming Healthcare through Reform and Investments in Efficiency (THRIVE).
This is indicated in a statement by the Ministry of Finance, the Ukrainian News agency reports.
The signatories were the Minister of Finance of Ukraine Serhii Marchenko, the Minister of Health of Ukraine Viktor Liashko and the World Bank Regional Director for Eastern Europe Bob Saum.
The project's goal is to assist the Government of Ukraine in improving the Health Guarantee Program (HGP) to create a reliable healthcare system.
The report states that, in particular, the Minister of Finance signed a loan agreement with the World Bank for USD 249 million with the support of the Government of Japan through the ADVANCE Ukraine Trust Fund (including USD 29 million for interest capitalization) and a loan agreement for USD 200 million.
THRIVE is one of the projects implemented using the PforR financial instrument, which provides for the achievement of indicators, upon verification of which Ukraine will attract a certain tranche of funds.
Thus, by the end of 2024, for the achievement of the envisaged results, the potential disbursement within the framework of the Project will be USD 220 million.
The Ministry of Health and the World Bank also signed a Grant Agreement for USD 5 million from the Ukraine Relief, Recovery, Reconstruction, and Reform Trust Fund (URTF) to finance the investment project Transforming Healthcare through Reform and Investments in Efficiency (THRIVE IPF) and support the implementation of THRIVE PforR. The Ministry of Health of Ukraine is the responsible executor of the IPF part.
On December 9, the World Bank Board of Directors approved a new systemic project in Ukraine Transforming Healthcare through Reform and Investments in Efficiency (THRIVE). At the approval stage, the planned total volume of the project reaches over USD 1.2 billion for 2024-2027.
As the Ukrainian News agency earlier reported, on November 28, Ukraine received USD 235 million in concessional financing from the Government of Japan within the framework of the new systemic projects of the “World Bank Resilient, Inclusive and Sustainable Enterprise" (RISE) and "Lifting Education Access and Resilience in Times of Need in Ukraine" (LEARN).
It is expected that in 2024, budget support from the EU will reach EUR 16 billion.