20,000 people chose to be part of the Kyiv Independent community — thank you.

Skip to content
The World Bank building in Washington, DC on Aug. 8, 2003. (Tim Sloan/AFP via Getty Images)
This audio is created with AI assistance

Ukraine received $1.5 billion in loans from the World Bank, the Finance Ministry said on March 29.

The loan, backed by guarantees from Japan and the U.K., was provided through the World Bank Trust Fund (Advance Ukraine). In total, Japan guaranteed $984 million, and the U.K. guaranteed $516 million.

"The funds raised will be used to support the state budget of Ukraine and economic recovery, as well as to finance the prioritized social and humanitarian expenditures of the state budget," said Finance Minister Serhii Marchenko earlier in the week.

Ukraine's recovery and reconstruction costs stemming from Russia's full-scale invasion are estimated to be $486 billion, according to the World Bank's assessment in February 2024.

As of March 1, the World Bank "has mobilized over $41 billion in financial support to Ukraine, of which nearly $35 billion has been disbursed to date."

World Bank to disburse $500 million for Ukrainian businesses in 2024
The matter was discussed during a meeting between the ministry’s team and the World Bank mission headed by Arup Banerji, the World Bank’s regional country director for Ukraine and Moldova.

Independent journalism needs a community —
not a paywall.

We’re working hard to show the world the truth of Russia’s brutal war — and we’re keeping it free for everyone, because reliable information should be available to all.

More than 20,000 people chose to stand behind us. We’re deeply grateful and overwhelmed with your support. Thank you for making it possible.

Let´s see how far we can go?

News Feed

8:42 PM

Egyptian POW didn't need money, but went to fight for Russia.

Egyptian-born Russian fighter, callsign "Cobra," signed a contract with the Russian army in 2024, abandoning his young wife, university studies and comfortable lifestyle. Now in Ukrainian prison, he's rethinking his choices. Subscribe to our channel for more independent reporting from Ukraine.
MORE NEWS

Editors' Picks

Enter your email to subscribe
Please, enter correct email address
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
Subscribe
* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required
Subscribe
* indicates required
Explaining Ukraine with Kate Tsurkan
* indicates required
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.