The financial aid package will be provided to Ukraine under loan guarantees from Great Britain and Denmark.
The World Bank has announced an additional $530 million in aid to Ukraine. This was announced on Friday, September 30, on the organization’s website.
It noted that the funds will be used to meet “urgent needs that have arisen as a result of Russia’s aggression in Ukraine.”
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It is clarified that we are talking about loan guarantees from Great Britain and Denmark in the amount of $500 million and $30 million, respectively, within the framework of the Public Expenditure to Strengthen the Administrative Capacity of Ukraine (PEACE) project.
To date, the World Bank has mobilized nearly $13 billion in emergency financing for Ukraine, including pledges and commitments from donors, of which $11 billion has been fully disbursed. This aid helped to continue providing basic public services to the population and mitigate the effects of war-related losses.
As reported, Ukraine received record revenues from external sources in August.
According to Finance Minister Sergei Marchenko, external borrowing in the form of grants remains the only effective source of replenishment of the state budget.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.