On the night of Tuesday, March 8, the World Bank (WB) Board of Executive Directors approved a package of additional budget support “ Financing of Recovery from Economic Emergency in Ukraine (FREE Ukraine)” for $489 million, and with other assistance, its total amount will exceed $ 700 million.
Commentary: The World Bank
“This rapid funding assistance will allow the government to provide critical services to Ukrainian citizens – wages for hospital workers, pensions for the elderly, and social programs for the vulnerable”.
In total, the package consists of a supplemental loan for $350 million and guarantees in the amount of $139 million. In addition, the WB is also mobilizing grant financing of $134 million and parallel financing of $100 million, which results in total mobilized support of $723 million.
Source: “The Day”