: Ukraine expects USD 1 billion from World Bank in 2017

11:28 Jun. 17, 2016

Ukraine expects USD 1 billion from World Bank in 2017

Ukraine's PM Volodymyr Groysman and the World Bank Managing Director Sri Mulyani Indrawati (Photo source: facebook.com/volodymyrgroysman)

Ukrainian PM says institution is ready to provide additional money to help Kyiv restore economy

Ukraine's economy could receive major financial help next year. The country expects an additional USD 1 billion from the World Bank in 2017. This is reported by Ukraine's Prime Minister Volodymyr Groysman, after a meeting with the institution's Managing Director Sri Mulyani Indrawati. 

"This is good news. The World Bank is ready to review how efficient the already planned and financed programmes are, and reserve additional US bln. for their expansion next year", Groysman posted on Facebook. 

Read also: White House to commit 220 mln U.S. dollars in new assistance to Ukraine in 2016

The meeting, described by Groysman as "encouraging", has yielded additional positive results for Ukraine. The World Bank will also assist in "developing a strategy for transport corridors and roads in Ukraine" and assess the needed funds and resources for this programme. 

"We never had such a strategy before, and it can become one of the vehicles to push Ukraine's economic revival", Groysman praised the new agreement. 

Read also: Senior IMF official speaks about 'advanced stage' of talks with Ukraine

As UNIAN reported, Groysman has left for the United States at U.S. Vice President Joe Biden's invitation. The Ukrainian prime minister has already held a number of meetings with U.S. officials, including Biden, Democrats and Republicans in the United States Congress, Senator John McCain, USAID Administrator Gayle Smith, and others. He also met with U.S. businessmen and investors.

The World Bank has been working in Ukraine for 20 years. In recent 20 months, the bank has financed dozens of projects to the tune of USD 4.6 billion. The projects concerned infrastructure, energy, the social sector, reform of public governance. The direct budget support accounted for half of the sum, USD 2.25 billion.

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