Home
/
News
/

World Bank gives Ukraine USD 400 mln for banks

World Bank gives Ukraine USD 400 mln for banks

18 September 2009

The World Bank’s board of directors voted yesterday to allocate a first tranche of USD 400 mln to Ukraine to rehabilitate the banking sector, the World Bank said in a press release. Reforms to be supported by the loan include creation of a transparent process to ensure banks are recapitalized with private funding, and where that is not possible, recapitalized or resolved with public resources at the lowest possible cost. The tranche will also support the approval of legal amendments to make it faster to deal with vulnerable banks and lower the cost to taxpayers. A second tranche, previously stated to be USD 350 mln in volume, will be directed at restructuring Ukraine’s banking sector and enhancing the legal and regulatory framework.

Latest News

News

23

02/2022

Separatists may claim entire territories of two Ukrainian regions

Russia has recognized “all fundamental documents” of the self-proclaimed Donetsk and Luhansk People’s Republics (DNR...

News

23

02/2022

U.K. to provide USD 500 mln loan guarantee for Ukraine as IMF mission starts

The British government is going to provide up to USD 500 mln in loan guarantees...

News

23

02/2022

MinFin bond auction receipts jump to UAH 3.5 bln

Ukraine’s Finance Ministry raised UAH 3.3 bln and EUR 7.2 mln (the total equivalent of...