The World Bank has announced a $3 billion package for Ukraine as the country fights back against Russia’s invasion.
The support deal is in association with the International Monetary Fund.
The World Bank’s board will consider a fast-disbursal of a $350 million loan for Ukraine within days, to provide emergency cash for its efforts to defend against the Moscow-sanctioned attack.
It will be followed by $200 million to support health and education, the World Bank and IMF said in a joint statement.
“We are currently preparing a package of fast-disbursing financing for Ukraine, which we hope to present to our board for consideration in the coming days,” a World Bank spokesperson told Reuters.
The IMF said that it will continue to review Ukraine’s 2020 loan, of which $2.2 billion remains outstanding.
“Coordinated international action will be crucial to mitigate risks and navigate the treacherous period ahead. This crisis affects the lives and livelihoods of people around the world, and we offer them our full support,” added the World Bank and IMF.
