“The World Bank is ready to commit up to $2 billion in 2015, supporting the people of Ukraine in the face of current economic, financial, and geopolitical challenges,” the World Bank’s President Jim Yong Kim said in the organization’s statement. “It is vital that Ukraine undertakes comprehensive reforms quickly.”
The World Bank’s 2015 program will also include budget support for reforms and investment projects that aim to improve “service delivery” in Kiev’s health and public infrastructure.
Kim said that he hoped the recent Minsk agreement and the International Monetary Fund’s extension on a bond facility of $17.5 billion in a four-year program to help Ukraine recover from its economic crisis would together “pave the way for a more stable economic and development environment to benefit the people of Ukraine.”
According to the World Bank, the 2015 financing is part of an “overall package of support from the international community.”
Since 1992 when Ukraine joined the World Bank the financial institution has given Kiev over $9 billion for projects and programs, the agency says.
