World Bank Provides Ukraine With New Financing

Published: 23rd May 2014 03:15 PM  |   Last Updated: 23rd May 2014 03:15 PM   |  A+A-

WASHINGTON: The World Bank has announced the approval of $1.5 billion for three new projects in Ukraine to help the crisis-hit country carry out critical reforms and build infrastructure, media reported Friday.

The financing of the three projects, with approval of the World Bank Board, is part of the bank's overall assistance to Ukraine which was announced in March to provide the country up to $3.5 billion by the end of 2014, Xinhua reported. 

"The Ukrainian authorities have developed a comprehensive programme of reforms, which they are committed to undertake with support from the World Bank Group," said World Bank Group President Jim Yong Kim. 

"We are stepping up our assistance to Ukraine because we want to help improve the lives of people in the country and to achieve economic recovery at a crucial time. The country's leaders are determined to improve public services and back much-needed reforms, and we are determined to help them."

The Bank will also offer $382 million to support improvements in heating energy efficiency and another $350 million to fund upgrades of water and solid waste services.

The new investments bring the World Bank's current lending portfolio to Ukraine to $3.39 billion.


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp