WASHINGTON, March 10 The World Bank said on
Monday it plans to provide Ukraine with up to $3 billion in 2014
to support the country's new government in the midst of its
current crisis, though only part of the money would be new.
The bank, a Washington-based lender that focuses on ending
poverty, already has several projects in Ukraine. About $2
billion in the funds will be disbursed this year as part of
Another pot of cash, up to $1 billion, would go directly to
the government if it implements economic reforms to get its
finances in order.
Officials from the International Monetary Fund are in Kiev
this week to discuss a possible lending program for Ukraine,
where the government says it is nearing bankruptcy. Kiev is also
dealing with Russia's seizure of its Crimea region.
IMF support would be conditioned on the government
undertaking reforms such as floating the hryvnia currency and
raising domestic gas prices, which are now heavily subsidized.
"We are moving forward with our pipeline of projects and aim
to support the government to undertake the reforms badly needed
to put the economy on a path to sustainability," World Bank
President Jim Yong Kim said in a statement.
The development lender said it is implementing an investment
and guarantee program in Ukraine totaling $3.7 billion, which
supports the private sector and delivery of public services such
as water supply and roads.
"We are committed to supporting the people of Ukraine in
these difficult times and very much hope that the situation in
the country stabilizes soon," Kim said.