World Bank Allocates $1.75 Bln to Ukraine

On Thursday, the World Bank announced $1.75 billion in aid to Ukraine.

The World Bank said in a statement that $500 million will be provided as a loan guaranteed by the United Kingdom, while $ 1.25 billion will be provided as a grant from the United States, and Finland will also provide $ 15 million as a grant.

This additional funding for the World Bank's Public Expenditure Support for Enhanced Sustainable Governance in Ukraine (PEACE) project follows a number of previous disbursements and will be used to continue support in key areas such as health, education, pensions, social assistance programs, and salaries for employees who deliver essential public services, according to the World Bank.

In April, the World Bank also announced it would provide Ukraine with $200 million in aid to restore its energy infrastructure.