On August 7, 2014, The World Bank’s Board of Executive Directors approved a $500 million operation to finance the First Programmatic Financial Sector Development Policy Loan.
The Loan is designated to support a program of high-priority reform measures in the country’s banking sector.
The package of reforms supported by this operation will help improve the performance of Ukraine’s banking system and its resilience to both domestic and external risks as well as will strengthen the financial, operational, and regulatory capacity of the Deposit Guarantee Fund.
This Loan is part of the World Bank Group’s broader crisis-response support package announced in March this year, which aims to provide Ukraine with up to US$3.5 billion by the end of 2014.
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