36.1 C
Delhi
Monday, June 24, 2024

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

Addressing Illegal Hoardings in India – the Need of the Hour

Illegal hoardings have become a pervasive issue in India, not only compromising urban aesthetics but also posing significant...

Need to amend building bylaws to encourage hotel industry: Yogi

Lucknow: Uttar Pradesh Chief Minister Yogi Adityanath on Monday expressed the need to constitute Shahjahanpur Development Authority for...

EAM Jaishankar, UAE FM review multifaceted bilateral Comprehensive Strategic Partnership

New Delhi/Abu Dhabi: External Affairs Minister S Jaishankar paid an official visit to the UAE during which he...

Stalin writes to EAM to secure release of fishermen arrested by Lankan Navy

Chennai: Tamil Nadu Chief Minister M K Stalin on Monday urged External Affairs Minister Dr.S.Jaishankar to take diplomatic...