The World Bank announced on Friday that it was allocating $2.5 billion in grants for additional aid to Ukraine. The funds are intended to support the country’s budget and provide Ukrainians with access to basic services.
Trust fund to help Ukraine
In December, the World Bank announced that it was allocating another $610 million to Ukraine. and announced that it had established an international trust fund to support the government of Ukraine.
Donors to the Ukraine Humanitarian Reconstruction and Reform Trust Fund (URTF) include SwitzerlandAustria, IcelandLithuania, Netherlands, Norway and Sweden, which initially donated $250 million. Canada and Japan have also pledged support for the URTF. The Fund will provide a funding coordination and support mechanism to assist the Ukrainian government in maintaining administrative capacity, delivering services, carrying out relief activities, and planning and implementing a reconstruction and reform program in Ukraine.
Main photo source: PAP/Vladyslav Musienko