After the Russia-Ukraine war, the World Bank has approved a loan for the welfare of the displaced citizens in Ukraine and to solve their basic problems.
According to details, the World Bank has approved a $1.5 billion loan guaranteed by Japan to Ukraine to meet the needs of displaced people and “enhance transparency and accountability of public resource spending.”
The World Bank has website In a statement, the World Bank’s Board of Executive Directors approved the $1.5 billion Ukraine Relief and Recovery Development Policy Loan (DPL) today.
The loan is guaranteed by the Government of Japan under the Advancing Needs Credit Enhancement for Ukraine Trust Fund (ADVANCE UKRAINE) and is an integral part of the international assistance package to meet Ukraine’s financial needs in 2023.
The statement added that the loan will help meet the needs of people displaced by Russia’s special military operation in Ukraine and help with reforms.
It should be noted that after the Russian invasion, Ukraine’s economy has been badly affected and it is in dire need of a loan. This initiative of the World Bank will provide a great facility to Ukraine and the people displaced after the Russian attack on Ukraine will get a lot of help from this loan.
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