The board of directors decided to approve the extension of a $1.2 billion loan to Ukraine, according to the World Bank’s press office.
Funds will be allocated to support 29 social assistance programs for “the most vulnerable people in Ukraine” under the project Investing in Social Protection for Inclusion, Resilience, and Efficiency (INSPIRE).
“The INSPIRE project is financed by a $1.2 billion World Bank loan, backed by a credit enhancement from the Advancing Needed Credit Enhancement for Ukraine (ADVANCE Ukraine) Trust Fund, supported by the Government of Japan,” highlighted the World Bank.
The World Bank continued, calling the initiative “an integral part of the international support package for Ukraine to meet its financing needs through 2024.”
