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War in Ukraine. The World Bank has announced that it is allocating USD 2.5 billion to Ukraine

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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.

“Resources provided by the Agency USA for International Development (USAID), will be transferred to the government Ukraine after appropriate verification of expenditure by the World Bank.

Read more: A powerful blow to the economy of Ukraine. The biggest drop in over 30 years

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.

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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.

Read also: “Unprecedented” aid from Norway to Ukraine. There is an announcement

Main photo source: PAP/Vladyslav Musienko

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