World Bank allocates 300M euro to Ukraine

The World Bank's Board of Directors has approved a 300 million euro ($337.16 million) loan to Ukraine, Report informs, citing the bank.

The funds have been allocated to support reforms for the country's economic recovery and development, as well as to mitigate the effects of the COVID-19 pandemic.

The World Bank noted that this is the second loan to Ukraine. The initial loan of $350 million was approved in June 2020.

Earlier, Ukraine's Public Debt Management Commissioner Yuriy Butsa said that additional financial assistance had been requested from the European Union to ensure sustainable financing in the coming years.