- the World Bank’s executive board authorised $1.49 billion in new funding for Ukraine.
- The new tranche will help pay government and social worker wages, bringing the bank’s total pledged support to more than $4 billion.
- According to Global News, the World Bank said in a statement that the latest batch of money for Ukraine is backed by financial guarantees from the United Kingdom, the Netherlands, Lithuania, and Latvia.
- Ukraine has stated that it will require at least $5 billion every month in the foreseeable future to keep the government afloat in the face of Russia’s invasion, which has put the country’s economy on hold.
the World Bank’s executive board authorised $1.49 billion in new funding for Ukraine. The new tranche will help pay the government and social worker wages, bringing the bank’s total pledged support to more than $4 billion.
According to Global News, the World Bank said in a statement that the latest batch of money for Ukraine is backed by financial guarantees from the United Kingdom, the Netherlands, Lithuania, and Latvia.
Read more: European Parliament will suggest to EU leaders that Ukraine be granted candidate status
Parallel funding from Italy and contributions from a new Multi-Donor Trust Fund are also helping to fund the project.
Ukraine has stated that it will require at least $5 billion every month in the foreseeable future to keep the government afloat in the face of Russia’s invasion, which has put the country’s economy on hold.
In May, the G7 finance ministers pledged an additional $9.5 billion. As a result, the overall amount of non-military assistance will be close to $20 billion.
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