Ukraine Gate -Kiev- March 8, 2022- The World Bank has agreed to give Ukraine, which is fighting the Russian invasion, $723 million in loans, and the package includes a $350 million loan, increased by about $139 million in guarantees from the Netherlands and Sweden.
The aid also consists of grants of $ 134 million from the United Kingdom, Denmark, Latvia, Lithuania and Iceland, as well as $ 100 million in funding from Japan.
“The World Bank Group is taking swift action to support Ukraine and its people in the face of the violence and extreme unrest caused by the Russian invasion,” said David Malpass, the bank’s president.
The bank said the funds would help the Ukrainian government provide critical services, including salaries to hospital staff, pensions for the elderly and social programs for vulnerable groups.
The bank also said it would continue to work on another $ 3 billion support package for the country in the coming months.
They also promised additional assistance to neighboring countries, which take in more than 1.7 million Ukrainian refugees, mostly women, children and the elderly.
As reported, on February 24, Russian President Vladimir Putin announced the beginning of the invasion of Ukraine.
Russian troops are shelling and destroying key infrastructure, massively shelling residential areas of Ukrainian cities and towns using artillery, multiple rocket launchers and ballistic missiles.
Martial law was imposed in Ukraine and general mobilization was announced.
