The World Bank has provided Ukraine a loan of $ 0.5 billion.
The World Bank has provided Ukraine a loan of $ 0.5 billion for system project “The second program loan for development policies of the financial sector”.
The Board of Directors of the World Bank approved the allocation of a loan of $ 500 million for system project “The second program loan for development policies of the financial sector” (FSDPL2).
According to the report the World Bank, these funds will help support the Deposit Guarantee Fund of individuals, and to stabilize the banking sector in Ukraine by carrying out diagnostics of the largest banks and the recapitalization and restructuring, if necessary.
The World Bank said that since the beginning of the year of its assistance to Ukraine in view of the operation will reach $ 1.215 billion, including $ 1 billion in direct budget support and reaffirms plans to bring it to the end of 2015 to $ 2 billion.
As reported, the World Bank approved a loan system (goes into the general fund of the state budget) FSDPL1 of $ 500 million in August 2014 and was closed in late November last year. It was assumed that FSDPL2 will be allocated at the beginning of 2015 and will focus on the implementation of the program of recapitalization of banks and restructuring based on the results of independent diagnostic tests, as well as long-term reforms to improve the sustainability and efficiency of the banking sector.
