World Bank approves new $3.39 billion aid package for Ukraine: details

The World Bank has approved a new $3.39 billion support program for Ukraine. The money will help continue reforms, support private business, and create new jobs.

This was reported by the press service of the World Bank.

This is the first of two planned programs under the Development Policy Operation (DPO) series. The package includes a World Bank loan of $1.04 billion, grant financing of $2.35 billion, as well as guarantees from the United Kingdom and support from Japan.

The World Bank noted that the funds will go towards reforms that should help attract more private investment, simplify business operations, and support the labor market. Particular attention will be paid to modernizing housing policy, attracting women to the workforce, and training specialists needed by the economy.

Another area of the program is the approximation of Ukrainian legislation with European Union norms. In particular, it concerns the integration of the energy market, increasing the transparency of state support for the agricultural sector, and updating the environmental monitoring system.

The World Bank emphasized that this program is part of broader international support for Ukraine and should help restore the economy even in the face of a full-scale war.