The World Bank approves $ 723 million in aid to Ukraine

“The package approved by the government consists of an additional $ 350 million 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 , 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 Bank support was increased with € 80 million in guarantees from the Netherlands ($ 89 million) and $ 50 million from .

The has also set up a Multi-Donor Fund (MDTF) to facilitate the channeling of grants from donors to . The United Kingdom, , , and Iceland have so far contributed $ 134 million.

The World Bank is calling for additional grants for the MDTF. In addition, will combine $ 100 million in co-financing with the support package.

Source: ANI

Source: The Nordic Page

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