World Bank allocates $723M for Ukraine

The World Bank Group approved a total of $723 million in budget support for Ukraine to assist Kiev amid the ongoing military conflict with Russia, the financial institution announced in a statement.

The bank said its board approved a $489 million assistance package, which consists of $350 million in loans and $139 million in guarantees. It will also mobilize grant financing of $134 million and parallel financing of $100 million.

“The fast-disbursing support will help the government provide critical services to Ukrainian people, including wages for hospital workers, pensions for the elderly, and social programs for the vulnerable,” the statement read.

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