The Strategist

World Bank approves $610M for Ukraine

12/21/2022 - 09:35

The World Bank (WB) has approved a total of $610m in financial support for Ukraine to meet "urgent needs".

The aid package will include a $500 million loan guaranteed by the United Kingdom, as well as funds to support Ukraine's healthcare system.

"The Russian invasion in Ukraine continues to have devastating economic and humanitarian consequences, affecting the health sector, critical energy infrastructure, and transportation networks," WB president David Malpass said in a press release on the WB website.

Since February, the World Bank has mobilized a total of $18 million to assist Ukraine. On December 20, the Ukrainian Finance Ministry reported that the US had transferred $2 billion to the Ukrainian state budget via the World Bank.