World Bank to allocate $500 mln to Ukraine (updated)

The World Bank has decided to issue $500 mln loan to Ukraine, TSN Ukraine’s news service reports.

"Ukraine will get another USD 500 million in loan from foreign lenders. The decision on issuing the loan to support policy development in Ukraine was taken by the World Bank Board of Directors yesterday evening," TSN reports.

As noted, the money are to be spent on measures aimed at the growth of the Ukrainian economy, setting transparency in the management systems and reducing the cost of doing business in the country.

Thanks to this decision, Ukraine will be able to get another $300 million from Japan and $24 million from Norway.

By Ukrinform