We've signed a USD 3.39 billion agreement with the World Bank: Yulia Svyrydenko

On the sidelines of URC, Ukraine’s Ministry of Finance and the World Bank signed a package of agreements under the First Growth and Jobs Development Policy Operation (DPO). The signed agreement provides for USD 3.39 billion to be used to support Ukraine’s macrofinancial stability and finance priority expenditures in the State Budget. The Ukrainian Prime Minister Yulia Svyrydenko announced.

The package includes:

• USD 1.04 billion in Development Policy Financing, including USD 500 million backed by a UK guarantee and USD 540 million backed by a Japanese guarantee;
• USD 2.35 billion in grant financing from the F.O.R.T.I.S. Ukraine FIF.

The Head of Ukrainian Government thanked World Bank President Ajay Banga for the Bank’s long-standing support for Ukraine.

Yulia Svyrydenko emphasized: “These agreements became possible thanks to Ukraine’s continued reform efforts. To meet the program’s conditions, Ukraine adopted 13 laws and 7 secondary regulations covering public procurement, factoring, integration of the energy market with the EU, agricultural development, veteran entrepreneurship, housing policy, preschool and vocational education, and the restoration of the greenhouse gas monitoring system”.

Moreover, the Prime Minister discussed the next phase of our partnership with Ajay Banga: “Together, we are working on the concept of the “Economy of the Future” – a long-term strategy to shape Ukraine’s post-war economy.”

According to her, among the priorities is modern housing policy. Expanding affordable mortgages and creating conditions for millions of Ukrainians to own a home is a key part of bringing people back to Ukraine.

Peculiar attention was paid to privatization. “We share the view that it must be gradual, transparent, and deliver maximum value for the state by attracting strategic investors and increasing the value of Ukrainian assets rather than selling them off prematurely”.

The Prime Minister expressed gratitude to the World Bank, Japan, and the United Kingdom for their unwavering support. And, separately, she thanked to her colleagues in the Government and Parliament, whose joint efforts had made the necessary reforms – and this result – possible.