“The package approved by the government consists of an additional $ 350 million loan and $ 139 million in guarantees, and will also mobilize $ 134 million in grant funding and $ 100 million in co-financing, resulting in a total of $ 723 million in support.”
The fast-paced support will help the government provide important services to Ukrainians, including salaries for hospital workers, pensions for the elderly and social programs for the vulnerable, the bank said in a statement.
The bank announced that initial World Bank support was increased with € 80 million in guarantees from the Netherlands ($ 89 million) and $ 50 million from Sweden.
The World Bank has also set up a Multi-Donor Fund (MDTF) to facilitate the channeling of grants from donors to Ukraine. The United Kingdom, Denmark, Latvia, Lithuania and Iceland have so far contributed $ 134 million.
The World Bank is calling for additional grants for the MDTF. In addition, Japan will combine $ 100 million in co-financing with the support package.
Source: ANI
Source: The Nordic Page