World Bank approves $200 million in additional funding for Ukraine

The world Bank announced Monday that it will make available nearly $200 million in additional financing and restructuring to bolster the city’s social services. Ukraine for the benefit of vulnerable people, in addition to the 723 million dollars authorized last week.

The financing is part of a $3 billion support package that the world Bank previously announced, a fund allocated for Ukraine in the coming months.

The President of the World Bank, David Malpasshe said at a virtual event organized by the Washington Post that the bank expects to close the financing plan of 3,000 million dollars within six to eight weeks, with the purpose of helping Ukraine to cover its needs.

“The magnitudes are astronomical,” Malpass said.

“Ukraine has been affected by its own economic slowdownthe crops that are in the fields are difficult to harvest,” he said, adding that the russian forces They were trying to isolate the ukrainian farmers both food and cash.

“It is a crude and horrible maneuver that is carried out almost every day,” he said, explaining that the reconstruction effort would involve roads, bridges and other important infrastructure. “That equates to tens of billions of dollars.”

To help Ukraine at this time, the World Bank will provide “as much cash as possible,” Malpass said, adding that it will also start building a portfolio of projects to support Ukrainians, some of whom now live in Poland and in other countries, as part of the core assistance package.

“Our immediate focus right now … is how do we help people who are being targeted,” he said.

The World Bank said the combined total of financial support already approved for Ukraine It stands at around $925 million.

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