World Bank approves a $200M loan for Ukraine to modernize higher education system

World Bank approves a $200M loan for Ukraine to modernize higher education system

Ukrinform
The World Bank’s Board of Executive Directors approved a $200 million project to support the Government of Ukraine’s efforts to strengthen efficiency, quality, and transparency of higher education system.

The World Bank said this in a press release issued on May 5, Ukrinform reports.

The Ukraine Improving Higher Education for Results Project will help improve the quality of the higher education sector, as well as its relevance to labor market needs, while also promoting resilience and continuity of learning in the face of the COVID-19 pandemic.

“The project will finance investments in the modernization of teaching and research facilities and digital learning infrastructure of higher education institutions (HEIs) to ensure learning continuity through remote learning modalities and to support resilience and change management over the longer term,” reads the document.

The project will also support the development of modern digital infrastructure for distance learning and creation of advanced teaching and research laboratories and learning support facilities.

"The World Bank is pleased to partner with Ukraine to modernize teaching and learning in universities in line with European standards in order to equip young Ukrainians with the skills they need for the 21st century," said Arup Banerji, World Bank Regional Country Director for Eastern Europe.

"As Ukraine recovers from the pandemic, we also strongly support Ukraine’s higher education system in its efforts to be better technically and digitally equipped for providing learning in the post-COVID-19 world,” he added.

The Ukraine Improving Higher Education for Results Project will be implemented over a five-year period by the Ministry of Education and Science of Ukraine. The ministry will have overall responsibility for project coordination and monitoring of the implementation progress. 

It is noted that the World Bank’s current investment project portfolio in Ukraine amounts to just over $3 billion, in nine ongoing investment projects and one Program for Results operation, and is expected to grow to around $3.6 billion over the next two months.

Since Ukraine joined the World Bank in 1992, the Bank’s commitments to the country have totaled approximately $13 billion in about 70 projects and programs.

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