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World Bank announces new $4.5 billion aid to Ukraine

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The World Bank announced on Monday an additional aid of US$4.5 billion for Ukraine, with funds provided by the United States, to help the government meet the “urgent needs created by war”.

This additional support will help kyiv pay social, pension or health expenses, key to easing the economic impacts of the Russian invasion, the bank said in a statement.

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The amount will be delivered in installments to the Ukrainian government, with a first disbursement of US$ 3,000 million in August, according to another statement from the US Treasury Department.

“Ukraine needs continuous government services, including health, education and social protection to prevent further deterioration of living conditions and poverty,” said the president of the World Bank, David Malpassquoted in the statement.

“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.

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This new aid brings almost US$ 13,000 million emergency financial assistance that the World BankHe has bestowed upon Ukraineof which more than 6,300 million were disbursed at the end of July.

“This economic aid is essential to support the Ukrainian people as they defend their democracy against the Russian war,” Treasury Secretary said Joe Biden, Janet Yellenquoted in the press release.

Also this Monday, the Pentagon announced a new military aid package worth US$ $1 billion, which includes more missiles for US precision artillery systems Himars.

Ukraine was invaded by Russia on February 24. The war plunged the country into a deep recession and displaced millions of Ukrainians.

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Source: Gestion

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