Ukraine: World Bank and IMF relocate staff abroad

THE The World Bank and International Monetary Fund (IMF) announced on Monday (15/2) that they have temporarily relocated some of their staff from Ukraine given the intense concern about a possible Russian invasionbut both organizations announced that their lending and support to Ukraine continues.

The World Bank said in an internal note read by Reuters that it had temporarily suspended its staff missions to Ukraine and that closely monitors the situation at the border.

“The most important priority for the World Bank is to keep Fr.staff and his families. “According to our evacuation policy, a temporary transfer of staff is underway and increased security measures are being implemented,” 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 in contact with them Their Ukrainian colleagues “ according to the same representative.

Development actions will continue

A representative of the World Bank Group also stated that development activities in Ukraine will continue, adding: “In this regard, the staff will continue to work on our program from Ukraine, but also 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: News Beast

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