The Washington-based World Bank approved a new international loan of $500 million to aid Ukraine’s struggling economy, the organization said in a statement.
"The package of reforms supported by this operation will help address the deep-rooted structural problems that have contributed to Ukraine’s current economic crisis," said Qimiao Fan, World Bank Country Director for Belarus, Moldova, and Ukraine.
"We are helping Ukraine to implement an urgent set of measures, which will be essential to stabilize the economy, provide quality services to all Ukrainians and return the country to a sustainable growth path."
The loan is part of the World Bank’s financial package announced in February. It aims to provide Kiev with up to $2 billion in 2015.
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