Ukraine has received $3.35 billion into its state budget under the first Jobs and Private Sector Growth Development Policy Program, implemented jointly with the World Bank. The announcement was made by Ukraine’s Prime Minister Yulia Svyrydenko.
The funding will be used to support the country’s macro-financial stability and finance priority state budget expenditures during the period of martial law.
“This financing became possible thanks to a comprehensive package of reforms. To meet the program’s requirements, the Government and the Verkhovna Rada adopted 13 laws and seven implementing regulations,” Prime Minister Svyrydenko said.
According to Svyrydenko, the reforms cover several key sectors, including improvements to the public procurement system, the development of factoring services, the integration of Ukraine’s energy markets with the European Union, agricultural sector reform, support for veteran entrepreneurship, the development of housing policy, the modernization of preschool and vocational education, and the restoration of the greenhouse gas emissions monitoring system.
The next phase of the program is expected to provide an additional $1 billion by the end of the year, subject to the fulfillment of the agreed reform commitments.
Part of the financing has been backed by guarantees from the governments of the United Kingdom and Japan.
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