News Feed

World Bank approves $610 million package to address Ukraine's urgent needs

0 min read

The World Bank Group announced on Dec. 20 a new financing package that includes projects to boost relief and recovery efforts for Ukraine amid Russia's full-scale invasion. The World Bank will provide additional financing of $500 million through an IBRD loan supported by a guarantee from the U.K. for the same amount and mobilized under the Public Expenditures for Administrative Capacity Endurance (PEACE) Project.

The additional $500 million in IBRD lending is amined at helping Ukraine's government with expenditures related to child and family benefits, salaries of public employees, and utility payments.

The World Bank will also support Ukraine with a new project to restore and improve access to health care and address new and urgent needs for health services due to the war.

Avatar
The Kyiv Independent news desk

We are the news team of the Kyiv Independent. We are here to make sure our readers get quick, essential updates about the events in Ukraine. Feel free to contact us via email with feedback and news alerts.

Read more
News Feed
Video

Since the beginning of Russia’s full-scale invasion of Ukraine in 2022, war has become a daily reality for thousands of Ukrainian children. Some Ukrainian military units, such as the Azov Brigade, offer boot camps for teenagers to teach them the basics of self-defense, first aid, dry firing, and other survival skills — helping them prepare for both the realities of today and the uncertainties of the future.

Show More