| Financier | Commitments |
|---|---|
| International Bank for Reconstruction and Development | 350.00 |
Economic Recovery Development Policy Loan
Abstract*
The development objectives of the First Economic Recovery Development Policy Loan for Ukraine are to: (i) foster de-monopolization and anti-corruption institutions; (ii) strengthen land and credit markets; and (iii) bolster the social safety net. It is thus important to scale up social protection spending to cushion the impact on the population during the Coronavirus 2019 (COVID-19) pandemic, including increasing the predictability of pension benefits... Show More
Development Objective
The proposed program development objectives are to: (i) foster de-monopolization and anti-corruption institutions; (ii) strengthen land and credit markets; and (iii) bolster the social safety net.
Key Details
Project Details
P172597
Closed
Karlis Smits
Ministry of Finance
June 26, 2020
(as of board presentation)
June 26, 2020
June 25, 2021
US$ 0.00 million
Ministry of Finance
2020
US$ 350.00 million
N/A
N/A
June 30, 2021
BANK APPROVED
March 7, 2024
Finances
Financing Plan (US$ Millions)
Total Project Financing (US$ Millions)
| Product Line | IBRD/IDA |
|---|---|
| IBRD Commitment | 350.00 |
| IDA Commitment | N/A |
| IBRD + IDA Commitment | 350.00 |
| Lending Instrument | |
|---|---|
| Grant Amount | N/A |
| Total Project Cost** | N/A |
Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025
No data available.
| Period | Financier | Transaction Type | Amount (US$) |
|---|---|---|---|
| Jun 26, 2020 | IBRD-91380 | Loan Commitment | 350,000,000.00 |
| Jun 29, 2021 | IBRD-91380 | Loan Disb | 349,124,992.00 |
| Jun 25, 2021 | IBRD-91380 | Loan Disb | 875,000.00 |
| Jun 25, 2021 | IBRD-91380 | Fee Charges | 875,000.00 |
| Feb 15, 2022 | IBRD-91380 | Int Charges | 845,527.06 |
| Feb 15, 2024 | IBRD-91380 | Int Charges | 13,382,804.00 |
| Aug 15, 2022 | IBRD-91380 | Int Charges | 4,469,694.50 |
| Feb 15, 2023 | IBRD-91380 | Int Charges | 9,284,333.00 |
| Aug 15, 2023 | IBRD-91380 | Int Charges | 12,054,097.00 |
| Aug 15, 2024 | IBRD-91380 | Int Charges | 64,322.52 |
| Aug 15, 2024 | IBRD-91380 | Int Charges | 13,236,831.00 |
| Feb 15, 2022 | IBRD-91380 | Int Charges | 3,327,333.20 |
Ratings
IMPLEMENTATION RATINGS
| Name | Review | Date |
|---|---|---|
| Overall Implementation Progress (IP) | Moderately Satisfactory | 2021-11-05 |
| Program Management | Satisfactory | 2021-11-05 |
| Monitoring and Evaluation | Satisfactory | 2021-11-05 |
| Progress towards achievement of PDO | Moderately Satisfactory | 2021-11-05 |
COMPLETION RATINGS
| INDICATOR | IMPLEMENTATION COMPLETION & RESULTS REPORT: 03-07-2024 |
|---|---|
| Outcomes | Moderately Satisfactory |
| Risk to Development Outcome | |
| Bank Performance | Moderately Satisfactory |
| Borrower Performance | |
| Government Performance | |
| Implementing Agency |
INDEPENDENT EVALUATION RATINGS
| INDICATOR | ICR REVIEW: 06-12-2024 | PROJECT PERFORMANCE ASSESSMENT REPORT: |
|---|---|---|
| Outcome Rating | Moderately Satisfactory | N/a |
| Risk To Development Outcome | N/a | |
| Bank Performance | Moderately Satisfactory | N/a |
| Borrower Performance | N/a | |
| Government Performance | N/a | |
| Implementing Agency | N/a | |
| Icr Quality | High | N/a |
| M&e Quality | N/a |
Results Framework
PROJECT DEVELOPMENT OBJECTIVE INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
INTERMEDIATE RESULTS INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Number of full verifications of high risk declarations selected using prioritization criteria, assigned automatically to staff, andimplemented using an improved methodology. Value 0.00 1150.00 1500.00 Date December 31, 2020 December 30, 2022 December 30, 2022 Comment The share of gas transit revenues flowing in a transparent manner from Naftogaz to the new independent Gas TSO, based on the tariffset by the NEURC. Value 0.00 100.00 100.00 Date December 31, 2019 December 30, 2022 December 30, 2022 Comment Number of port concession projects signed with private investment mobilized through project financing by lenders. Value 0.00 2.00 2.00 Date December 31, 2019 December 30, 2022 December 31, 2021 Comment Number of voyages by ships (including cargo) on Dnipro River increases by about 20 percent. Value 11938.00 15840.00 14300.00 Date December 31, 2019 December 31, 2021 December 31, 2021 Comment Area of agricultural land previously under moratorium sold/purchased by eligible individuals Value 0.00 249556.00 150000.00 Date December 31, 2019 November 30, 2023 December 30, 2022 Comment Loans are issued to small farmers and backed by Partial Credit Guarantee (PCG) facility Value No No Yes Date December 31, 2019 December 29, 2023 December 30, 2022 Comment Gross Pre-2020 NPL Portfolio of State-Owned Banks Value UAH 397 billion UAH 254 billion Under UAH 300 billion Date December 31, 2019 December 31, 2021 December 31, 2021 Comment NBU and NSSMC adopt action plan on reshuffling supervisory regimes for insurance, credit unions, pension funds, and other NBFIs. Value No Yes Yes Date December 31, 2019 December 30, 2022 December 31, 2021 Comment Pension benefits increase in line with the indexation formula within the first half of each calendar year, allowing adequate support for pensioners, of which at least 65 percent are women. Value No Yes Yes Date December 31, 2019 December 30, 2022 December 30, 2022 Comment