Ukraine has received a $521 million grant from the World Bank, according to the country’s Finance Ministry.
The award was mostly funded by the United States, with smaller contributions from Sweden and Austria. The monies are part of the ministry’s “second loan programme for development strategy in support of Ukraine’s economic recovery.”
If the war continues, the World Bank estimates that Ukraine’s economy will collapse by 45 percent by 2022. Ukraine’s President, Volodymyr Zelenskyy, has stated that the country’s reconstruction and recovery will cost hundreds of billions of dollars.
