Arup Banerjee Became the New World Bank Director for Ukraine, Belarus and Moldova

The new director Mr. Arup Banerjee will lead the bank’s cooperation with governments and partners in three countries: Ukraine, Belarus and Moldova. In particular, the new director will deal with the coordination and implementation of the loan portfolio of research products and to determine the future direction of programs, said the World Bank’s press service reports.

In addition, Banerjee will partner with the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA), part of the World Bank Group.

Prior to this appointment, Banerjee, an Indian national, was World Bank Regional Director for the European Union. Prior to joining the bank, he taught economics at universities in the United States and India. He is the author of articles and books related to economic growth, public finance, human development, social protection, institutional development, labor, and the fight against poverty and inequality.

On June 26, the Board of Executive Directors of the World Bank decided to provide Ukraine with a $ 350 million loan.

As Focus previously reported:

  • The World Bank Board of Directors approved additional funding for Ukraine in the amount of $ 135 million.
  • Earlier it was reported that the World Bank agreed to allocate $ 135 million to Ukraine in three parts: $ 35 million – to counter the COVID-19 epidemic, $ 45 million – to purchase medical equipment for emergency departments, as well as to improve the situation with medical care for strokes.
  • The EU will also  send Ukraine assistance in the amount of 190 million euros.  Of these, 4 million euros will go to support volunteers who are fighting the coronavirus.

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