Ukraine spends US$184.9 mln borrowed from World Bank within joint projects since year-start

Ukraine's Finance ministry says the country in 2019 spent US$184.9 million borrowed from World Bank for joint projects, which was 18% up against 2018.

Spending is expected to have increased by another US$34 million by the end of the year due to the receipts in the Ukrainian national budget's general fund for the projects "Serving People, Improving Health" and "The Social Assistance System Modernization Project," the ministry said on its website on November 27.

Ukraine is implementing nine joint projects worth US$2.6 billion with the World Bank. A total of US$901.6 million has been spent to this end since their launch.

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The projects are aimed at improving Ukrainian roads, upgrading the energy sector, introducing farmland reform, improving the quality of health care and social assistance, as well as improving water supplies, sanitation and solid waste disposal, the report said.

UNIAN memo. The World Bank is an international financial institution that provides financial and technical assistance to developing countries. Ukraine joined the World Bank and the International Monetary in 1992.

Since May 2014, the World Bank has provided a total of US$5.5 billion to Ukraine, as well as a US$500 million gas guarantee. It also provided Ukraine with a financial guarantee worth US$750 million, under which the country raised funds on the foreign market.