The Board of Directors of the World Bank approved a loan to support the development policy Growth Foundations Development Policy Loan – DPL in the amount of USD 1.5 billion for Ukraine.
This follows from a statement by the Ministry of Finance, the Ukrainian News agency reports.
Funds will be provided under the guarantee of the Japanese government through the World Bank Trust Fund (ADVANCE Ukraine) in the amount of USD 984 million and under the guarantee of Great Britain in the amount of USD 516 million.
At the same time, in order to reduce the cost of servicing Ukraine's credit obligations under the DPL2024 loan for the coming years, the DPL Loan Agreement provides for interest capitalization in the amount of USD 99.54 million from Japanese funds.
The DPL project is a systemic project aimed at supporting the implementation of reforms in Ukraine. The funds are credited to the general fund of the state budget in a single tranche based on the results of tasks completed before its signing.
The main directions of the reforms concerned the improvement of corporate governance, the stimulation of renewable energy generation, the introduction of agrarian notes as a new tool for obtaining financing by farmers, strengthening the financial sector by improving business access to financing (under the Affordable 5-7-9 Loans program).
It is expected that the funds will reach the state budget of Ukraine by the end of March this year.
As the Ukrainian News agency earlier reported, on March 26, Ukraine received USD 880 million from the International Monetary Fund.
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