News Feed, World Bank, finance, Financial aid, Ukraine, Japan, United Kingdom

Ukraine receives $1 billion from Japan, UK through World Bank DPL program

by The Kyiv Independent news desk December 24, 2024 3:38 PM 1 min read

The World Bank headquarters in Washington, DC, on Sept. 27, 2022. Photo for illustrative purposes. (Samuel Corum/Bloomberg via Getty Images)

This audio is created with AI assistance

Ukraine has received $1bn from Japan and the U.K. through the World Bank’s Growth Foundations Development Policy Loan (DPL) program, Prime Minister Denys Shmyhal announced on Dec. 24.

“The funds raised will be used to strengthen our economy and finance priority expenditures in the social and humanitarian spheres,” he said in a post on Telegram.

“We thank the World Bank, the governments of Japan and the United Kingdom for their significant support to Ukraine and their contribution to strengthening our resilience.”

Deputy Minister of Finance Olha Zykova previously highlighted how such loans bolsters Ukraine's budget while also enhancing economic development by improving productivity, access to export markets, and implementing necessary reforms for European integration.

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 published on Feb. 15.

Author: The Kyiv Independent news desk

Comments

News Feed

3:01 AM

Russia deems record number of organizations 'undesirable' in 2024.

Russia added 65 organizations to the list in 2024, include the Clooney Foundation for Justice (CFJ), founded by George and Amal Clooney, and the independent Russian media outlet the Moscow Times.

5:01 PM

(Updated: December 25, 2024 2:10 am)

Russia strikes apartment building in Kryvyi Rih on Christmas Eve, at least 1 killed, 15 injured.

Preliminary reports say that a Russian ballistic missile hit a four-story apartment building in the city, according to Mayor Oleksandr Vilkul. "Unfortunately, we're preparing for difficult news," Vilkul said in a statement.

1:34 AM

Russian court sentences US citizen to 15 years for alleged espionage.

Eugene Spector, 52, was already serving a three-and-a-half-year sentence for bribery when he was charged with espionage.

12:43 AM

Kyiv to simplify procurement of drones, electronic warfare equipment.

"From now on, the military will be able to plan their needs more effectively, and manufacturers will be able to focus on technological development and scaling up production," Defense Minister Rustem Umerov said.

11:43 PM

Fire damages United Russia party office in Arkhangelsk, official claims.

The office was storing "humanitarian aid" for Russia's front-line military personnel, according to United Russia representative Vladimir Zhgilyov.

10:50 PM

Russia has 'systemic problems' with fleet, Navy spokesperson says after Ursa Major explosion.

"The Russians have a systemic problem. It is quite expectedly reflected in the general condition of their fleet," Ukrainian Navy spokesperson Dmytro Pletenchuk said on Dec. 24.

10:24 PM

War update

Ukraine war latest: Russia attempts to seize bridgehead on west bank of Dnipro, potentially for Kherson assault

9:00 PM

Opinion

Slavoj Žižek: Ukraine’s fight against Russia is a metaphysical struggle for survival

8:58 PM

Ukraine receives first $1 billion as part of US batch of frozen Russian assets profits.

This is the first tranche of the planned $20 billion that the U.S. intends to provide as part of the G7 initiative.

8:01 PM

Moldova

Narrowly overcoming pro-Russian comeback, Moldovan President Sandu is facing tough term ahead

7:56 PM

Civil partnerships in limbo as LGBTQ+ community seeks equal rights amid war

7:49 PM

War analysis

Our readers' questions about the war, answered. Vol. 7

7:35 PM

Deported Ukrainian teen allegedly commits suicide in Russia.

Ukrainian-born Oleksandr Yakushchenko, 18, who was deported from the Russian-occupied Kherson Oblast in 2022, was found dead after allegedly committing suicide on Jan. 10, 2024 near his foster home in Russia.

3:57 PM

Russian government considers restricting calls made via messenger apps.

The possible blocking of calls is being justified by authorities as a crackdown on anti-fraud calls.

3:38 PM

Ukraine receives $1 billion from Japan, UK through World Bank DPL program.

“The funds raised will be used to strengthen our economy and finance priority expenditures in the social and humanitarian spheres,” Prime Minister Denys Shmyhal said on Dec. 24.

3:03 PM

Russia trying to seize bridgehead on west bank of Dnipro, but no talk of storming Kherson, military says.

From the new foothold, Russian forces could fire on Kherson and the Ukrainian military units located in the coastal zone on the western bank of the Dnipro.

2:32 PM

Russian-installed head of occupied Berdiansk injured after his car explodes.

Ukrainian authorities have previously accused Vasyl Nechet of collaborationism.

1:21 PM

US allocates almost $254 million for increasing missile production.

The U.S. Defense Department has provided $253.7 million to Williams International (Williams) through the Defense Production Act (DPA).

1:08 PM

WhatsApp may be blocked in 2025 in Russia if company doesn't comply with law, senator says.

WhatsApp is the only Meta service that has not yet been blocked in Russia.

11:57 AM

Russian attacks across Ukraine kill 2, injure 5 over past day.

Russian forces launched 60 drones at Ukraine overnight from the Russian cities of Bryansk, Millerovo, and Primosk-Akhtarsk, according to a report from Ukraine's Air Force.

11:44 AM

Russian cargo ship Ursa Major sinks in Mediterranean after explosion.

According to reports, 14 crew members were rescued, and two remain missing.

10:28 AM

Ukrainian volunteers developing more powerful model of Trembita missile capable of reaching Moscow, The Economist reports.

The Trembita is significantly cheaper than Western or Russian cruise missiles, and operates like the V1 flying bombs used by Germany during World War II.

9:46 AM

Ukraine receives $1 billion from Japan, UK through World Bank DPL program

Most popular

North Korean troops open fire on Russian unit, Ukraine's military intelligence claims

Intercepted Russian phone call suggests North Korean troops suffering trainloads of wounded

Cargo vessel sent to transport Russian military equipment from Syria breaks down in open sea, Ukraine's intel claims

Russian guided bomb attacks fall sharply after ATACMS, Storm Shadow strikes, analysts say

For first time, Ukraine attacks Russian positions using solely ground, FPV drones