World Bank approves $723 mln in loans, grants for Ukraine
Gulf Times
The package includes a $350 million loan supplement to a prior World Bank loan, augmented by about $139 million through guarantees from the Netherlands and Sweden, the bank said in a statement.
The World Bank said its executive board on Monday approved a $723 million package of loans and grants for Ukraine, providing desperately needed government budget support as the country battles a Russian invasion.
The package includes a $350 million loan supplement to a prior World Bank loan, augmented by about $139 million through guarantees from the Netherlands and Sweden, the bank said in a statement.
It also includes $134 million in grants from Britain, Denmark, Latvia, Lithuania and Iceland as part of a trust fund that will continue to take in grant contributions on Ukraine's behalf. Japan is providing parallel financing of $100 million.
A World Bank spokesperson said the funds are expected to be transferred to Ukraine's government in the next few days.
