World Bank announces $200 mln extra financing for Ukraine
The World Bank has announced nearly $200 million in additional and reprogrammed financing to bolster Ukraine's social services for vulnerable people, the bank said on Monday.
"Financing will support essential social services; combined total of World Bank-mobilized support for Ukraine now stands at more than $925 million," the bank said in the release.
The World Bank said that $350 million of this amount has already been disbursed to Ukraine, and in general, this financing is part of the $3 billion package of support that the World Bank Group previously announced for Ukraine for the coming months.
The bank also said that as part of the fundraising efforts, Austria has contributed EUR 10 million to the multi-donor trust fund (MDTF) set up by the World Bank to facilitate channeling grant resources from donors to Ukraine. This raises the current MDTF total to $145 million.
"The ongoing war continues to have severe human costs and has created financing gaps that jeopardize the ability of vulnerable people in Ukraine to meet basic needs," World Bank Group President David Malpass said in the release.