29.4 C
Delhi
Saturday, July 19, 2025

World Bank approved $1.5bln loan, guaranteed by Japan, to address Ukraine’s needs

Date:

Share post:

Donate-GC-Razorpay

Washington: The Board of Executive Directors of the World Bank approved Thursday a $1.5 billion loan, guaranteed by the Japanese government, for Ukraine to address the needs of displaced people and support reforms to “enhance the transparency and accountability of public resources expenditures.”

“The World Bank’s Board of Executive Directors today approved the $1.5 billion Ukraine Relief and Recovery Development Policy Loan (DPL). This loan is guaranteed by the Government of Japan under the Advancing Needed Credit Enhancement for Ukraine Trust Fund (ADVANCE Ukraine) and forms an integral part of the international support package for Ukraine to meet its financing needs in 2023,” the World Bank said in a statement on the website.

The loan will help to address the needs of “the newly poor and displaced because of the war by providing relief to households,” support reforms “to enhance the transparency and accountability of public resources expenditures” and help markets to function better during and after Russia’s special military operation in Ukraine and contribute to economic recovery through reforms, the statement read.

Related articles

Missiles in the Monsoon: India Tests Its Arsenal, But Who Should Fear?

A Thunderclap Over the BayIt was a humid monsoon morning at Chandipur, Odisha. A lone myna bird...

Bangladesh on the Brink: A Nation Struggles with Its Past, Present, and Future

A Land Stirred by Memory and MovementIn the heartland of Gopalganj, where the scent of jute fields...

Creating history, Indian astro and three other AX 4 ISS mission crew set for splashdown

Chennai: As the entire world is waiting with bated breadth, the four member crew of Axiom Mission AX-4...

Yogi sets 10% contribution to national economy target by 2026

Lucknow:  Describing the state's economic journey as a transition from "possibilities to results," Uttar Pradesh Chief Minister Yogi...