June 30, 2023 01:47 pm | Updated 01:47 pm IST - KYIVUkraine will receive $1.5 billion from the World Bank to support reconstruction and recovery, Prime Minister Denys Shmyhal said on June 30. "In particular, the loan will help support subsidies for internally displaced people and pension payments," Mr. Shmyhal said. Ukraine relies on financial aid from its foreign partners to be able to cover its budget deficit. On Thursday, the International Monetary Fund's board completed its Ukrainian loan review, allowing Kyiv to immediately withdraw $890 million for budget support. Ukraine is rebuilding schools, hospitals, roads and bridges and implementing repairs in the energy sector despite continued fighting in the south and east of the country.

Source: The Hindu June 30, 2023 16:47 UTC