Finance Minister Sergii Marchenko and World Bank Regional Director for Eastern Europe (Belarus, Moldova and Ukraine) Arup Banerji signed amendments to the Grant Agreement to be awarded to Ukraine from the World Bank Trust Fund under the Second Economic Recovery Development Policy Loan. Under this additional agreement, Ukraine will receive additional grant funds (within one grant) from Norway, Austria and the United States in the amount of EUR 495 million.
The financing will be directed to the general fund of the State Budget of Ukraine to ensure priority social and humanitarian expenditures, healthcare expenditures, and support for internally displaced persons.
Background
The Trust Fund was established by the International Bank for Reconstruction and Development and the International Development Association, to which contributions have already been made by Denmark, Iceland, Latvia, Lithuania, the United Kingdom, Norway, Austria and the United States.
