(sda) The organization is acting quickly to support Ukraine in the face of violence and destruction as a result of the Russian invasion, as World Bank President David Malpass said in Washington on Monday evening (local time). This is just “the first of many steps” to help Ukraine. The World Bank said the quick payout will help the government fund welfare payments and pay health care workers and pensions.
The package, with a total volume of $723 million, consists of a $350 million loan from the World Bank to stabilize Ukraine’s budget and additional loan guarantees from Sweden and the Netherlands totaling around $140 million. In addition, there are pledges of aid from Great Britain, Denmark and other countries of 134 million dollars. Ultimately, Japan is mobilizing an additional $100 million in funding, the World Bank said.
The World Bank announced last week that it would prepare an aid package totaling three billion US dollars for Ukraine in the coming months.
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