The World Bank has approved $1.49 billion of additional financing for Ukraine to help the government to pay wages its employees and social workers.
Thus, World Bank’s financing for Ukraine has expanded to over $4 billion.
The World Bank said the latest funding is supported by financing guarantees from Britain, the Netherlands, Lithuania and Latvia.
The project is also being supported by parallel financing from Italy and contributions from a new Multi-Donor Trust Fund.
Ukraine has said that it needs at least $5 billion per month in the near term to keep its government operating amid continued fighting that has shut down vast portions of its economy.
Non-military support reaches $20B
Finance leaders from the G7 (Group of Seven) industrial democracies last month pledged $9.5 billion in new funding, bringing their non-military support to nearly $20 billion.
The World Bank has been working with donor countries to use its various financing programs to support health care, education, social services, power and water supplies and roads.
The core services were “essential to preventing further deterioration in living conditions and poverty in Ukraine beyond the suffering inflicted because of the war,” World Bank Eastern Europe country director Arup Banerji said in a statement.
Such services would also be “the bedrock of any recovery and reconstruction,” Banerji added.
