World Bank to Give Ukraine Support Worth $1.5 Bln

On Tuesday, the World Bank announced an additional $1.5 billion in aid to Ukraine, bringing the total support package for Kyiv to more than $4 billion.

Late February, the Russian invasion caused a humanitarian crisis in Ukraine, destroyed its economy and infrastructure, and drained the government’s ability to pay its dues.

A statement issued by the World Bank said that the funding will be used to pay the salaries of government employees and social workers, noting that with the new aid package, about $2 billion have been disbursed so far.

David Malpass, the president of the World Bank said in a statement that the global lender provides constant support to Ukraine and its people in the face of the ongoing war.

He added that the bank works with donor countries to mobilize financial support and take advantage of the flexibility of its various financing instruments to help provide Ukrainians with access to health services, education, and social protection.

Ukrainian President Volodymyr Zelenskyy has stated that his government needs support worth $7 billion per month to continue its work.