World Bank announces $1.49-B aid package for Ukraine

FILE: The World Bank H Bulding in Washington D.C. (Photo By G0T0 – Own work, CC0)

WASHINGTON – The World Bank Board of Executive Directors has approved USD1.49 billion of additional financing for Ukraine, the organization said in a statement.

The new financing is part of the total support package of over USD4 billion that the World Bank is mobilizing.

The aid includes financing guarantees from the United Kingdom, the Netherlands, Lithuania, Latvia and other states.

The World Bank expects the funding from this project to be used “to pay for wages for government and social workers.”

The statement quoted World Bank Group President David Malpass as saying that the bank is “working with donor countries to mobilize financial support” and is taking measures “to help provide Ukrainians with access to health services, education and social protection.”. (TASS)