The World Bank announced an additional $1.49 billion aid for Ukraine this Tuesday, under the Public Expenditures for Administrative Capacity Endurance in Ukraine Project.
In a statement, the international organization said that this new financing is part of a total support package of over $4 billion that the World Bank is mobilizing, which is up from the earlier estimated $3 billion.
World Bank Group President David Malpass said: “The Group is providing continuing support for Ukraine and its people in the face of the ongoing war,” adding, “We are working with donor countries to mobilize financial support and leveraging the flexibility of our various financing instruments to help provide Ukrainians with access to health services, education, and social protection.”
Ukrainian Prime minister Denys Shmyhal confirmed the aid through a tweet today, saying: “WorldBank approved additional $1.49 billion financing support for Ukraine, fighting against the aggressor.”
“Funding will be used to pay wages for social workers and civil servants. Recovery and victory will be the victory of democracy and whole civilized world,” wrote the official.
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