KYIV, June 30 – The World Bank's Board of Executive Directors today approved a $350 million First Economic Recovery Development Policy Loan (DPL) for Ukraine in support of reforms that are critical to economic recovery.

According to the press service of the World Bank, the key reforms supported by the DPL include: strengthening land and credit markets by creating a transparent and efficient market for agricultural land and resolving non-performing loans in state owned banks; fostering de-monopolization and anti-corruption institutions including by restructuring the gas sector; bolstering the social safety net for the vulnerable elderly population to cushion the impact of the COVID-19 pandemic.