On the sidelines of the Ukraine Recovery Conference in Gdansk, Ukraine and the World Bank signed a $3.39 billion agreement. This was made possible by the implementation of reforms.
This was reported by the Prime Minister of Ukraine Yulia Svyrydenko.
- $1.04 billion is development policy loans, backed by the governments of Japan ($540 million) and the United Kingdom ($500 million).
- $2.35 billion is grant funding from the Financial Intermediation Fund to Promote Resources for Investment in Strengthening Ukraine (FORTIS).
The package of agreements was concluded within the framework of the first Private Sector Jobs and Growth Policy Program (a financial support package aimed at restoring the Ukrainian economy and integrating with European Union markets).
To sign the agreement, Ukraine fulfilled the following conditions of the program: it adopted 13 laws and 7 by-laws. They are related to the areas of public procurement, energy market integration with the EU, agricultural sector development, veteran entrepreneurship, housing policy, education, and the restoration of the greenhouse gas monitoring system.
The next stage of Ukraineʼs partnership with the World Bank is the "Economy of the Future" concept, which should determine what the Ukrainian economy will be like after the end of the war.
- DPO (Development Policy Operation) — Development Policy Program from the World Bank. This is a direct budget support instrument, under which Ukraine receives funds to cover the state budget deficit and finance social needs in exchange for structural and institutional reforms (European integration, fight against corruption, digitalization). The program operates in series: within the framework of the Growth Foundations series, Ukraine attracted over $3.5 billion in 2024.
Author: Khrystyna Pitsuriak
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