The World Bank and the IMF are temporarily relocating their staff outside Ukraine

The World Bank and the International Monetary Fund (IMF) announced yesterday that they were temporarily relocating some of their staff from Ukraine amid heightened concerns about a possible Russian invasion, but both said their lending and support to Ukraine continues.

The World Bank said in an internal note read by Reuters that it had temporarily suspended its personnel missions to Ukraine and was closely monitoring the situation at the border, where Russia has amassed a large military force within shooting distance of Ukraine.

“The most important priority for the World Bank is to keep staff and their families safe. In line with our evacuation policy, a temporary relocation of staff is under way and increased security measures are in place,” the internal note said.

This note did not provide details on the location and number of staff temporarily transferred.

The IMF has temporarily relocated Vahran Stepanian, its representative in the country, outside Ukraine, according to an IMF spokesman.

Stepanian is of Armenian descent and has been leading the IMF office in Kiev since July 2021, working with Ukrainian workers.

“The IMF staff is still cooperating and communicating with their Ukrainian counterparts,” the spokesman said.

A spokesman for the World Bank Group also said that development efforts in Ukraine would continue, adding: “In this regard, staff will continue to work on our program from Ukraine and other alternative areas.”

The IMF maintains a $ 5 billion lending program in Ukraine, and the World Bank has provided about $ 1.3 billion in financing to the country since the outbreak of the COVID-19 pandemic.

SOURCE: AMPE