The World Bank has approved the allocation of a tranche of EUR 300 million to Ukraine to support reforms aimed at economic recovery of the country, as well as to mitigate the consequences of the coronavirus pandemic.
The reforms should help demonopolize the economy, strengthen anti-corruption institutions, land and credit markets, as well as the social protection system for the elderly, TASS reports.
Earlier it became known that Ukraine is negotiating with the European Commission (EC) on a new package of financial assistance totaling more than 1.2 billion euros. According to Bloomberg and Ukrainian government ombudsman Yuri Butsu, Kiev has requested a long-term macro-finance program from the EC to ensure sustainable funding in the coming years. It was reported that the administration of Ukrainian President Volodymyr Zelensky has already begun negotiations with the EU authorities about the size of financial assistance and the terms of a new loan.
Source: Rosbalt
Tristin is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
