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

8:42 PM

BREAKING: Zelensky 'not ready for peace,' Trump says after heated Oval Office clash.

"He disrespected the United States of America in its cherished Oval Office. He can come back when he is ready for peace," U.S. President Donald Trump posted on TruthSocial.

6:26 PM

(Updated: February 28, 2025 8:01 pm)

Zelensky meets Trump in Washington to sign natural resources deal.

President Volodymyr Zelensky met U.S. President Donald Trump in Washington on Feb. 28 as the two leaders are expected to sign a framework deal on Ukraine's natural resources.

7:26 PM

Zelensky, Trump get into heated argument while speaking with journalists in Oval Office.

President Volodymyr Zelensky and U.S. President Donald Trump held a 45-minute-long press briefing in the Oval Office that ended in a heated argument about American aid to Ukraine.

7:25 PM

Trump says he's 'for both Ukraine and Russia' during meeting with Zelensky.

Talking about his role in negotiations to end Russia's full-scale invasion of Ukraine, Trump said he was "in the middle."

7:16 PM

Ukraine's security guarantees are Europe's responsibility, Trump tells Zelensky.

U.S. President Donald Trump said he wants to finalize the peace deal first, adding that security guarantees accounted for only a small part of the issue.

6:06 PM

Belarus weekly

Belarus Weekly: Russia, Belarus confirm Zapad-2025 joint military drills in September

6:05 PM

Weapons, cash seized as Romania targets far-right politician Georgescu's network, Reuters reports.

Romanian prosecutors requested the temporary arrest of 21 individuals linked to far-right leader Calin Georgescu on Feb. 28, days after his detention, Reuters reported.

5:29 PM

Video

How Ukrainians fund their own fight against Russia.

While Ukraine heavily relies on foreign aid, the country’s war effort is also funded by its own people. In 2024 alone, individual volunteers and fundraisers have raised nearly $1 billion to buy critical weapons and equipment for the Ukrainian military. But why do ordinary Ukrainians continue donating when international aid exists? And how has Ukraine’s unique culture of giving become a lifeline for the country’s survival?

5:18 PM

Orban opposes Ukraine's EU accession, claiming it would 'destroy' Hungary.

"It will destroy us. First of all, it will destroy Hungarian farmers and Hungarian agriculture; secondly, it will destroy the entire Hungarian national economy, and I have no idea how we will control the crime that will flood into Hungary with this," Hungarian Prime Minister Viktor Orban said.

5:12 PM

Russia interested in lifting US sanctions against oligarchs, energy exports, Zelensky's adviser says.

"Our understanding is that they are most concerned about two things. The first thing is those oligarchs who are under U.S., EU, and U.K. sanctions because this is a real problem for them. And the second thing is what prevents Russia from making money — energy (sanctions)," said Vladyslav Vlasiuk, the president's commissioner for sanctions.

4:52 PM

Washington approves new Russian ambassador to US, Russian Foreign Ministry says.

Alexander Darchiev, a veteran diplomat with a half-decade of experience in Washington, previously served as Russia's ambassador to Canada from 2014 to 2021 and later as the director of the North American Department at the Russian Foreign Ministry.

4:44 PM

Russia proposes resuming direct flights with US during talks in Turkey, Reuters reports.

Russia has suggested resuming direct air travel with the United States during diplomatic talks in Istanbul, Reuters reported, citing the Russian Foreign Ministry.

4:13 PM

Klitschko announces dismissals of top Kyiv administration officials amid corruption probe.

Kyiv Mayor Vitali Klitschko announced on Feb. 28 that Petro Olenych, the deputy head of the Kyiv City Administration, and several other officials embroiled in a corruption probe would be dismissed.

1:34 PM

(Updated: February 28, 2025 3:44 pm)

Updated: Ukraine repelled Russian attempt to cross into Sumy Oblast on Feb. 25, fighting continues, military says.

Russian forces attempted to cross the Russia-Ukraine border in Sumy Oblast near the village of Novenke on Feb. 25 but were repelled, Dmytro Lyhkovii, a spokesperson for Ukraine's General Staff, told the Interfax-Ukraine news agency on Feb. 28.

3:24 PM

North Korea tests strategic cruise missiles as Kim orders nuclear readiness, state media reports.

North Korean dictator Kim Jong Un, who supervised the launch, ordered the country's military to be in full nuclear strike readiness as "the most perfect deterrence and defence capacity."

2:21 PM

Ukrainian forces destroy Russian thermobaric munitions depot in Donetsk Oblast, General Staff reports.

A video of the strike shows an initial explosion is followed by a spectacular series of much larger subsequent explosions.

1:26 PM

Company news

Kyiv Independent’s film about military medics will be screened in 6 more European cities

1:21 PM

Opinion

Europe must finally take charge of its security — starting in Ukraine

1:15 PM

Police raid Ukraine's 3 country's largest pharmaceutical plants, media reports.

The police searched the offices and production facilities of Arterium Corporation, Farmak Joint Stock Company, and Darnytsia Pharmaceutical Company, Ukrainska Pravda's source claimed.

2:31 PM

(Updated: February 28, 2025 12:47 pm)

Updated: Revolut denies operating in Ukraine without license after central bank's pushback.

According to Ukrainian banking law, a foreign bank can only operate in Ukraine if it opens a local branch or obtains a banking license. This process must first be approved by the NBU, the bank said in the press release.

12:34 PM

Russian assets

Kakhovka dam explosion: Russia left people to die

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

Most popular

Over 10,000 applications to join military submitted by young recruits following introduction of 'special contracts,' Defense Ministry says

Russia offering US deal on natural resources, access to Arctic

'You can't kill your way out of this war' — Kellogg calls for sanctions against Russia's shadow fleet, concessions from Ukraine to end war

Ukraine, US reach agreement on minerals deal

US threatens to shut off Starlink if Ukraine won't sign minerals deal, sources tell Reuters

News Feed

BREAKING: Zelensky 'not ready for peace,' Trump says after heated Oval Office clash.

Zelensky meets Trump in Washington to sign natural resources deal.

Zelensky, Trump get into heated argument while speaking with journalists in Oval Office.

Trump says he's 'for both Ukraine and Russia' during meeting with Zelensky.

Ukraine's security guarantees are Europe's responsibility, Trump tells Zelensky.

Belarus Weekly: Russia, Belarus confirm Zapad-2025 joint military drills in September

Weapons, cash seized as Romania targets far-right politician Georgescu's network, Reuters reports.

How Ukrainians fund their own fight against Russia.

Orban opposes Ukraine's EU accession, claiming it would 'destroy' Hungary.

Russia interested in lifting US sanctions against oligarchs, energy exports, Zelensky's adviser says.

Washington approves new Russian ambassador to US, Russian Foreign Ministry says.

Russia proposes resuming direct flights with US during talks in Turkey, Reuters reports.

Klitschko announces dismissals of top Kyiv administration officials amid corruption probe.

Updated: Ukraine repelled Russian attempt to cross into Sumy Oblast on Feb. 25, fighting continues, military says.

North Korea tests strategic cruise missiles as Kim orders nuclear readiness, state media reports.

Ukrainian forces destroy Russian thermobaric munitions depot in Donetsk Oblast, General Staff reports.

Kyiv Independent’s film about military medics will be screened in 6 more European cities

Europe must finally take charge of its security — starting in Ukraine

Police raid Ukraine's 3 country's largest pharmaceutical plants, media reports.

Updated: Revolut denies operating in Ukraine without license after central bank's pushback.

Europe is sitting on Russia's $198 billion Giving it all to Ukraine is tricky.

Starmer invites Zelensky, other leaders to summit on Ukraine, security on March 2.

Europe cannot be vassal of US, Macron says amid Trump's foreign policy shifts.

Ireland open to sending peacekeepers to Ukraine, PM says.

Russian attacks against Ukraine kill 3, injure 20 over past day.

Editors' Picks

Taurus missiles, stronger Europe — what can Ukraine hope for after German elections

Explainer: Did Trump lie about $350 billion aid to Ukraine, and does Kyiv have to repay it?

In talks with Russia, Trump repeats his Afghanistan playbook

As Trump and Moscow align their vision, battle to stabilize Donetsk front rests on a knife edge

Subscribe