The World Bank grants Ukraine an additional $2.5 billion in support the continuation of basic services and recovery efforts
The World Bank announced Friday that it will grant Ukraine additional aid worth $2.5 billion to support the continuation of basic services and recovery efforts.
The new support comes within the framework of Project Peace, which aims to provide financial support for the services of the Ukrainian state, and its source comes from the US Agency for International Development.
It aims to support the main sectors, including health, education, pension payments and care for the displaced, as well as paying the salaries of public sector employees, according to a World Bank statement.
The new line of credit raises to $20.6 billion the value of financing granted by the World Bank to Ukraine in the form of loans and grants, since the beginning of the conflict a year ago, of which $18.5 billion has been disbursed so far.
“I am delighted that the World Bank has mobilized this amount to support Ukraine since the beginning of the conflict… We’ll continue to support the people of Ukraine in their most urgent needs and coordinate on the reconstruction and recovery efforts of the government,” the Foundation President David Malpass said in a statement.
Since the beginning of the war, Ukraine has received great support from the international community, foremost among them the United States, on the military and financial fronts.
In all, the United States has provided more than $113 billion in direct aid to Ukraine since the conflict began on February 24, 2022.