News Column

Ukraine,United States : WORLD BANK approves use of US $1.5 billion to UKRAINE

May 24, 2014

The World Bank'sBoard of Executive Directors approved 3 new projects for Ukraine amounting to US $1.48 billion.

This financing will reinforce technical assistance and policy dialogue to help drive the essential structural and macroeconomic reforms.

The US $750 million First Development Policy Loan will support high-priority reform measures to address key structural roots of the current economic crisis in Ukraine and to lay the foundation for inclusive and sustainable growth.

It aims to promote good governance, transparency, and accountability in the public sector; strengthen the regulatory framework and reduce costs of doing business; and reform inefficient and inequitable utility subsidies while protecting the poor.

The US $382 millionDistrict Heating Energy Efficiency Project will support 10 municipal heating utility companies by helping them enhance quality of their services and carry out efficiency improvements to cut production costs harmful emissions. The project includes US $50 million from the Clean Technology Fund (CTF), which provides middle-income countries with resources to use low carbon technologies. Over 3 million Ukrainians are expected to benefit from the project.

The US $350 millionSecond Urban Infrastructure Project will provide funding for 10 participating water utilities across the country and a municipal solid waste company. It will assist the participating utilities in a series of improvements of the services provided through the rehabilitation and upgrade of dilapidated water supply and wastewater infrastructure and institutional building. This results in better access to water, wastewater and solid waste services to over 6 million citizens.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: TendersInfo (India)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters