World Bank will provide more than $2 bln through DPL mechanism – Shmyhal

 The World Bank will provide Ukraine with more than $2 billion: $1 billion in the form of a non-repayable grant, another $1.05 billion in the form of a loan guaranteed by the governments of Japan and the United Kingdom, Prime Minister Denys Shmyhal said.

"Ukraine is starting to receive the first U.S. funds at the expense of frozen Russian assets. The World Bank will provide $2 billion through the DPL mechanism," he wrote on Telegram on Friday.

According to him, the World Bank board approved the allocation of funds the day before.

"And today the Ministry of Finance of Ukraine has signed the relevant agreements with the World Bank," he specified.

In particular, $1 billion will be provided in the form of a non-repayable grant from the World Bank FIF fund at the expense of the U.S. contribution within the framework of the G7 initiative. Ukraine will receive another $1.05 billion in the form of a loan guaranteed by the governments of Japan and Great Britain.

"Ukraine has fulfilled all the necessary measures to receive the funds. We are grateful to our partners for their support on the path to economic development and recovery," Shmyhal noted.

DPL is a systemic project aimed at supporting reforms in Ukraine, and funds are credited to the general fund of the state budget in a single tranche based on the results of tasks completed before its signing.