The World Bank will provide more than $ 700 million in emergency financing to Ukraine

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”


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