“The Ukrainian authorities have developed a comprehensive program of reforms, which they are committed to undertake with support from the World Bank Group,” said World Bank Group President Jim Yong Kim. “We are stepping up our assistance to Ukraine because we want to help improve the lives of people in the country and to achieve economic recovery at a crucial time. The country’s leaders are determined to improve public services and back much-needed reforms, and we’re determined to help them.”

The three projects approved by the Board are part of the World Bank Group’s overall assistance to Ukraine announced in March this year, which aims to provide up to US$3.5 billion by the end of 2014.

The World Bank is a major development partner of Ukraine. With these new investments, the current World Bank’s lending portfolio will amount to US$3.39 billion through 11 operations in the country. Since Ukraine joined the World Bank in 1992, the Bank’s commitments to the country have totaled over US$8.5 billion for 43 projects and programs.