World Bank approves $723M financial package for Ukraine

The World Bank has approved $723 million in loans and grants for Ukraine, which is fighting against the Russian invasion.

Ukrinform reports this with reference to BBC.

The package includes a $350 million loan, augmented by about $139 million through guarantees from the Netherlands and Sweden.

It is also made up of $134 million in grants from Britain, Denmark, Latvia, Lithuania and Iceland, as well as $100 million of financing from Japan.

The bank said the funds would help Ukraine’s government provide critical services, including wages for hospital workers, pensions for the elderly and social programmes for the vulnerable.

“The World Bank Group is taking quick action to support Ukraine and its people in the face of the violence and extreme disruption caused by the Russian invasion,” David Malpass, the bank’s president, said in a statement.

See: hungarian version.

Source: ukrinform.net