World Bank allocates additional $1.76 billion to Ukraine's recovery
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The World Bank Group has announced a $1.76 billion assistance package for Ukraine, Ukrainian Prime Minister Denys Shmyhal said during the Ukraine Recovery Conference in London on June 21.
The allocated funds will be utilized for various purposes, including the payment of salaries for rescue workers and teachers, pensions, as well as support for low-income families, children with disabilities, internally displaced persons, and single mothers, plus medical services, Shmyhal explained.
According to the prime minister, the assistance will be provided with the support of the United States, the United Kingdom and Finland. He emphasized that the World Bank has played a leading role in mobilizing resources to aid Ukraine since the outbreak of full-scale war in 2022.
In March, the World Bank revised its estimate of Ukraine's post-war reconstruction needs to $411 billion.
On June 19, Ukrainian President Volodymyr Zelenskyy held a phone conversation with the President of the World Bank Group, Ajay Banga, to dis-cuss further cooperation.
Ukraine's state budget received EUR 63 million in financing from the World Bank on June 20. The funds will be utilized to partially reimburse the salaries of state officials and teachers for February and March 2023.
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