World Bank to finance Ukrainian education for $ 415 million
Ukraine's education sector is set to receive a $415 mn boost from the World Bank, with $200 mn potentially available by the end of 2024, for improving teaching and learning conditions.
The World Bank’s Board of Directors approved a new $415 million financing package for Ukraine’s education sector, according to a press release from Ukraine’s Ministry of Finance.
The project, Enhancing Access to and Resilience of Education in Crisis-affected Ukraine (LEARN), is part of the World Bank’s Program-for-Results (PforR) lending instrument.
The LEARN project will provide $415 million in available funding, the Ministry of Finance reported.
This financial support aims to bolster Ukraine’s education system, focusing on two key areas: improving teaching and learning conditions through state budget subventions to local budgets, and ensuring safe in-person teaching and learning environments for students, teachers, and school staff.
This financing comes at a crucial time for Ukraine’s education sector, which has faced numerous challenges due to the Russian war.
Deputy Minister of Education and Science Yevhen Kudriavets said at the “Ukraine. The Year 2024” forum that every seventh school in Ukraine today is damaged due to a full-scale invasion. More than 3,500 educational institutions suffered some kind of damage, and almost 400 were completely destroyed, Kudriavets said.
According to the latest World Bank estimates, Ukraine needs almost $14 billion to rebuild its educational infrastructure.
The Ministry reports that the Agreement for the project is expected to be signed in September 2024. Following this, Ukraine could receive significant funds before year-end.
“By the end of 2024, based on achieving predetermined indicators, Ukraine will be able to receive $200 million to the state budget’s general fund,” the press release reported.
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