Politics 2024-04-15T05:16:11+03:00
Ukrainian news
World Bank transfers additional USD 500 million to Ukraine

World Bank transfers additional USD 500 million to Ukraine

Ukraine, World Bank, USD, Million, transfers, additional

The World Bank announced that the Government of Ukraine received USD 500 million today to address immediate needs arising from Russia's invasion of Ukraine.

This follows from a statement by the bank, the Ukrainian News agency reports.

Financing is provided by credit guarantees provided by Great Britain, which was announced on September 30, 2022.

This funding is mobilized within the framework of the Public Expenditures for Administrative Capacity Endurance (PEACE) project, which provides ongoing support to the government to ensure the provision of basic public services, particularly in the areas of health care, education, pensions and social protection.

The World Bank has already mobilized USD 13 billion in emergency financing for Ukraine, including in donor commitments and guarantees.

USD 11.4 billion have already been transferred in full.

This assistance allowed the continuation of essential public services to the population and helped to reduce the impact of the significant human and economic losses caused by the war.

As the Ukrainian News agency earlier reported, last month the World Bank, the Government of Ukraine and the European Commission published an analysis of Ukraine's needs for reconstruction and recovery - Rapid Assessment of Damage and Recovery Needs (RDNA).

The report notes that these needs amount to USD 349 billion as of June 1, 2022.

This number will increase as the war continues.

In mid-September, the State Budget of Ukraine received a grant from the USA in the amount of USD 1.5 billion from the Trust Fund of the World Bank.

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