Washington : The World Bank Group said its Board of Executive Directors approved a total of $723 million in financial assistance to Ukraine.
“The World Bank Board of Executive Directors today approved a supplemental budget support package for Ukraine, called Financing of Recovery from Economic Emergency in Ukraine – or FREE Ukraine – for $489 million,” the World Bank said in a press release on Monday.
“The package approved by the Board consists of a supplemental loan for $350 million and guarantees in the amount of $139 million and is also mobilizing grant financing of $134 million and parallel financing of $100 million, resulting in total mobilized support of $723 million,” it said.
The financial aid will help the Ukrainian government provide services to Ukrainian citizens, including wages for hospital workers, pensions for the elderly, and social programs for the vulnerable, the release said.