The State Budget of Ukraine received a tranche of USD 1 billion under the Second Growth Foundations Development Policy Loan (DPL).

The financing consists of USD 567 million guaranteed by the Government of Japan under the ADVANCE Ukraine Trust Fund and USD 483 million guaranteed by the Government of the United Kingdom.

“The funds raised will be used to increase the economic development capacity and finance the priority social and humanitarian expenditures of the State Budget of Ukraine. We are grateful to the World Bank, Japan and the UK for their substantial support of the State Budget in this difficult period,” said Minister of Finance of Ukraine Sergii Marchenko.

DPL project aimed at supporting the implementation of reforms in Ukraine. Thus, Ukraine receives the corresponding tranche based on the results of the implementation of the Programme requirements.

This tranche has achieved results to ensure sustainable growth in the areas of customs and tax policy, anti-corruption, support for state-owned enterprises, private sector development, and logistics infrastructure.

“Ukraine is committed to the reform agenda even under martial law. First and foremost, it contributes not only to attracting critical resources but also to further economic growth and recovery, as well as to contributing to the country’s further European integration,” added Deputy Minister of Finance Olga Zykova.

On 20 December, Minister of Finance of Ukraine Sergii Marchenko and World Bank Regional Country Director for Eastern Europe Bob Saum signed financial agreements under the Programme.