The World Bank’s board of directors approved additional $ 1.49 billion in funding to Ukraine on Tuesday to allow the government to pay the salaries of civil servants and social workers.
The new funding increases the World Bank’s lending to Kyiv to more than $ 4 billion.
On March 8, the Washington-based international financial institution approved $ 3 billion in financing and $ 489 million in direct disbursement.
Nearly $ 2 billion has been disbursed so far, the World Bank said in a press release.
He added that the new funding has third countries guaranteeing Britain, the Netherlands, Lithuania and Latvia. He did not specify whether it was a donation or a loan.
He said, however, that the purpose of the grant was to benefit “ordinary citizens” and that funding would be directed to areas such as “water supply, sewerage, heating, electricity, energy efficiency, road network, social protection, education”. and health “.
Maintaining the functioning of Ukrainian government institutions will be “the foundation of recovery and reconstruction”.
The Russian army invaded the territory of Ukraine on February 24. The war plunged the country into recession and forced millions to flee their homes.
Source: AMPE
Source: Capital
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