The World Bank announced Monday that it will make available some $200 million in additional funds to boost social services for people in need in Ukraine, up from the $723 million it approved last week.
The financing is part of a $3 billion support package that the World Bank previously announced it was preparing to provide to Ukraine in the coming months.
World Bank President David Malpass told a virtual forum hosted by The Washington Post that the bank hopes to finalize the $3 billion package within 6-8 weeks to help Ukraine meet its needs.
“Ukraine suffers from the same economic slowdown and the difficulty of harvesting in the fields,” he said, adding that Russian forces were trying to prevent food and money from reaching Ukrainian farmers.
Malpass said the reconstruction effort would include roads, bridges and other major infrastructure facilities. “That equates to tens of billions of dollars.”
To help Ukraine now, the World Bank is putting up “all the money we can raise,” Malpass said, adding that the bank will soon start building a series of projects to help Ukrainians, some of whom now live in Poland. and others. countries, as part of the $3 billion package. “My immediate focus now … is how can we help people who are currently under attack.”
The World Bank said that the total support already approved for Ukraine is about 925 million dollars.
He added that Austria had provided 10 million euros ($11 million) to a special fund set up by the World Bank to facilitate the flow of donor resources to Ukraine. This brings the total funds in the fund to $145 million, she said.