World Bank allocates another $530M for Ukraine

The World Bank Group approved another $530 million in budget support for Ukraine to assist Kiev amid the ongoing military conflict with Russia.

The financial institution said the package was backed by the United Kingdom and Danmark, bringing the total assistance to $13 billion, of which $11 billion has been fully disbursed..

“Our most recent analysis shows that the total long-term cost of reconstruction and recovery in Ukraine are enormous, with the needs even for the next three years totaling well over $100 billion, a figure that is expected to grow as the war continues,” World Bank Country Director for Eastern Europe Arup Banerji said in the statement.