The World Bank is releasing an additional $4.5 billion (nearly €4.4 billion) for Ukraine so that the country can “keep essential services and the government working,” the institution announced in a press release.
The aid is part of the PEACE program that the World Bank set up for Ukraine. The money should allow the Ukrainian government to “pay the wages of hospital, government and school staff, as well as pensions, civil servants’ wages and social assistance programs”.
The new tranche of aid brings the total aid amount that the World Bank has released for Ukraine since the Russian invasion to USD 17.8 billion. “This generous envelope comes at a critical time for the country, which is experiencing severe power cuts as the weather continues to get colder,” World Bank chief David Malpass said in a statement. “The World Bank will continue to use all resources to assist the Ukrainian government in meeting the essential needs of its citizens.”
The new disc was funded entirely by the United States. US Treasury Secretary Janet Yellen called on other donors to “increase and accelerate their aid to Ukraine” in a separate press release.
Free unlimited access to Showbytes? Which can!
Log in or create an account and don’t miss a thing of the stars.