The World Bank to disburse USD 1.5 bln in aid to Ukraine

Wednesday 13 April 2022 11:20 CET | News

The World Bank has announced it is preparing to deliver USD 1.5 billion in aid to Ukraine to help the country maintain government operations amid Russia’s offensive.

The funds were approved by the International Development Association, the arm of the World Bank that provides grants and loans to the world’s poorest countries. The bank has also been working to provide aid to hospital workers and the elderly in Ukraine and to support refugees. It has committed to helping Ukraine rebuild after the war.

The World Bank has already started to disburse nearly USD 1 billion of aid that was previously approved. The additional USD 1.5 billion will need final approval from the bank’s board of directors.

The war in Ukraine had darkened the outlook for the global economy, which had already been coping with high inflation and disrupted supply chains because of the pandemic.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: banks, Russia Ukraine War, funding, financial institutions, supply chain finance
Categories: Banking & Fintech
Companies: World Bank
Countries: Ukraine
This article is part of category

Banking & Fintech

World Bank

Discover all the Company news on World Bank and other articles related to World Bank in The Paypers News, Reports, and insights on the payments and fintech industry: