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World Bank approves $723 mln in loans, grants for Ukraine

8 March 2022 19:23 (UTC+04:00)
World Bank approves $723 mln in loans, grants for Ukraine

By Trend

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, Trend reports citing Reuters.

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.

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