The World Bank on Monday announced an additional $4.5 billion in aid for Ukraine, with funds provided by the United States. The launch of this new aid should allow the government to meet the “urgent needs caused by the war.”
This sum will be paid in installments to the Ukrainian government, with a first installment of $3 billion this month, the US Treasury Department said in a separate statement.
Insure social, retirement or health expenses
Thanks to this financing, the government and local authorities should be able to cover social, pension or health expenses, the World Bank said in a press release.
“Ukraine needs ongoing government services, including health, education and social protection, to prevent further deterioration of living conditions and poverty,” World Bank President David Malpass was quoted as saying in the press release.
United States, main contributor
“We are grateful to the United States and our partners for their continued support…and for the generous grant that will greatly support the people of Ukraine,” he added.
“This economic aid is essential to support the Ukrainian people as they defend their democracy in the face of the Russian war,” Joe Biden’s US Treasury Secretary Janet Yellen was quoted as saying in the press release. The US Pentagon, for its part, also announced on Monday a new tranche of military aid to Ukraine, amounting to one billion dollars.
$13 billion mobilized in total
This brings the total amount of emergency financial assistance mobilized for Ukraine by the institution to almost $13 billion, of which more than $6.3 billion had been disbursed by the end of July.
In early June, the World Bank announced $1.49 billion in aid to Ukraine to help its government pay the salaries of civil servants and social workers. In March, the institution approved $4 billion in financing.
Source: BFM TV
