World Bank mobilises USD 42 billion to support Ukraine

World Bank mobilises USD 42 billion to support Ukraine

The World Bank, together with partners and donors, has mobilised USD 42 billion in support of Ukraine under the PEACE initiative, of which more than USD 38 billion has already been disbursed in tranches.

This was stated by the World Bank's Managing Director for Operations, Anna Bjerde, at the Conference on Ukraine's Recovery in Berlin, an Ukrinform correspondent reports.

Bjerde said that from the first day of the war, the World Bank has been trying to support Ukraine and looking for public and private partners to assist Ukraine.

According to her, the WB considers its main task to support the functioning of the Ukrainian government so that the state continues to provide public services to citizens in the face of war.

The Managing Director said that, together with the Ukrainian government, they have established the PEACE platform, which supports Ukraine's budget so that the state can perform its core functions, including salaries for teachers, healthcare, social spending, and assistance to internally displaced persons.

She added that in Ukraine, the WB provides financial support to 10 categories of budget items.

Bjerde said that the World Bank, together with its partners under the PEACE initiative, has mobilised USD 42 billion to support Ukraine, of which they have already disbursed more than USD 38 billion in various tranches.

Read also: Ukraine signs memorandum with World Bank to improve housing market

According to her, the WB is also helping Ukraine attract investment in various sectors, assess the damage caused by Russian aggression, which according to the latest report in February exceeded USD 486 billion, and forecast the prospects for the Ukrainian economy.

As Ukrinform reported earlier, the Italian government is preparing a EUR 140 million economic aid package for Ukraine to rebuild its infrastructure.

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