World Bank disburses the first tranche of the fund from the russian federation's assets to Ukraine

The world Bank approved the allocation of Ukraine $2.05 billion for financial stability, reforms and promote investment, including from the Fund, which is replenished with proceeds from frozen assets of the russian federation.

"The Board of Executive Directors of the World Bank adopted a Development Policy Program (DPO) for Ukraine in order to strengthen the basis of economic policy for sustainable growth and improve financial stability," the report says.

As specified, the transaction involves the allocation of $1.05 billion using IBRD resources, credit strengthened through the Ukrainian Trust Fund Advanced Needed Credit Enhancement (ADVANCE) with the support of Japan and the United Kingdom. The deal is also co-financed by a $1 billion grant from the Resource Facilitation Fund for Investments in Strengthening Ukraine's Financial Intermediation (F.O.R.T.I.S. Ukraine FIF).

The DPO program is aimed at supporting reforms in Ukraine in order to strengthen the country's economic potential and improve macro-financial stability. This initiative supports the efforts of the authorities to increase Ukraine's GDP per capita in order to approach the EU level and strengthen the economic independence of the state.

Source: Ukrinform