Ukraine to get additional $530M from World Bank

Ukraine to get additional $530M from World Bank

The World Bank has announced an additional $530 million to help the government of Ukraine meet urgent needs caused by the Russian-Ukrainian war.

The World Bank said this in a press release, Ukrinform reports.

"The IBRD financing is supported by timely loan guarantees by the United Kingdom ($500 million) and the Kingdom of Denmark ($30 million)," the press release said.

To date, the World Bank has mobilized nearly $13 billion in emergency financing for Ukraine, including commitments and pledges from donors, of which $11 billion has been fully disbursed.

"The assistance has allowed Ukraine to continue providing essential government services to the population and helped ease the impacts of the widespread human and economic losses caused by the war," the World Bank's press service said.

Read also: Biden signs bill providing over $12B in aid to Ukraine

U.S. President Joe Biden on Friday approved a bill that allows avoiding a government shutdown in the United States and provides a multibillion-dollar package of new security and economic assistance to Ukraine. Earlier, the measure was passed by the U.S. House of Representatives.

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