World Bank to allocate US$200 mln to Ukraine for education system

The World Bank says its Board of Executive Directors has approved a US$200 million project to support the Ukrainian Government's efforts to strengthen efficiency, quality, and transparency of the country's higher education system.

"The project – Ukraine Improving Higher Education for Results – will help boost the quality of the higher education sector, as well as its relevance to labor market needs, while also promoting resilience and continuity of learning in the face of the COVID-19 pandemic," the Bank's press service said May 5.

Read alsoFinance Ministry says EIB loans to help solve social problems in DonbasAlso, the project will support the development of modern digital infrastructure for distance learning and creation of advanced teaching and research laboratories and learning support facilities. Another objective of this project is to improve transparency of Ukraine's education sector through modernization of the Higher Education Management Information System and establishment of a National Student Survey and unified information system on competitive research funding of higher education institutions (HEIs).

"The World Bank is pleased to partner with Ukraine to modernize teaching and learning in universities in line with European standards in order to equip young Ukrainians with the skills they need for the 21st century," the press service quoted Arup Banerji, World Bank Regional Country Director for Eastern Europe, as saying.

The project will be implemented over a five-year period by the Ministry of Education and Science (MOES) of Ukraine. The MOES will have overall responsibility for project coordination and monitoring of the implementation progress.

Background

According to the Finance Ministry, Ukraine in 2020 realized almost US$700 million in loans provided by the World Bank.

World Bank. Memo

The World Bank is an international financial institution that provides financial and technical assistance to developing countries. To date, the World Bank includes two institutions: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA).