The World Bank has pledged $3.39 billion to support Ukraine’s reconstruction, Prime Minister Yulia Svyrydenko said after meeting World Bank President Ajay Banga in Gdańsk. $2.35 billion will be delivered as grants to stabilize the economy, while $1.04 billion will be a loan to Kyiv guaranteed by Britain and Japan. No timetable for disbursement has been announced. The pledge was made at the Ukraine Recovery Conference, which includes the EU, G7, the World Bank and private-sector participants.
World Bank Pledges $3.39 Billion to Support Ukraine’s Reconstruction
Then Ukrainian Prime Minister and Minister of Economy Yulia Svyrydenko speaks to journalists at the Ukraine Reconstruction Conference. (is associated with: «Ukraine to receive $3.4 billion for reconstruction from World Bank») Britta Pedersen/dpa
Ukraine will receive an additional $3.39 billion from the World Bank, Prime Minister Yulia Svyrydenko announced on Thursday after meeting World Bank President Ajay Banga at the Ukraine Recovery Conference in Gdańsk, Poland.
Details of the Package
Of the $3.39 billion, $2.35 billion will be provided as grants aimed at stabilizing Ukraine and shoring up its economy. A further $1.04 billion will be extended as a loan to Kyiv for economic development, with guarantees from Britain and Japan.
No timetable was provided for when the funds will be disbursed.
Context
The announcement was made at the Ukraine Recovery Conference, hosted by Polish Prime Minister Donald Tusk with participation from Ukrainian Prime Minister Yulia Svyrydenko. The meeting brings together the European Union, the Group of Seven (G7), the World Bank, other international institutions and numerous private-sector representatives to coordinate reconstruction and economic support.
Ukraine remains heavily dependent on foreign assistance as it seeks to repel the full-scale Russian invasion that began in February 2022.
Note: Officials have not yet provided a schedule for disbursement or detailed conditions attached to the loan and grant components.
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