The World Bank has earmarked an additional $1.34 billion for Ukraine, with the bulk of the funding, approximately $1.086 billion, originating from the Japanese government, according to Ukrainian Prime Minister Denys Shmyhal.
He announced the allocation via Telegram channel, emphasizing that these funds will play a crucial role in supporting various key areas, including pension disbursements, teachers' salaries, and aid for internally displaced persons.
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Additionally, grants from the US, Switzerland, and the Fund for Support, Reconstruction, and Reform of Ukraine (URTF) contribute to this financial package.
Shmyhal highlighted the importance of international assistance, noting that it bolsters Ukraine’s macro-financial stability and allows the country to focus its internal resources on the needs of the military.
The World Bank had earlier disclosed in December that Ukraine would receive $1.2 billion in financial support. The funds are designated to support 29 programs aimed at providing social assistance to the most vulnerable segments of the population.
During a visit to Washington on Dec. 11-12, President Volodymyr Zelensky engaged in discussions with key figures, including Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva and World Bank President Ajay Banga.
Zelensky expressed Ukraine's interest in deepening cooperation with the World Bank for the country's transformation. In response, Banga affirmed the World Bank's commitment to providing financial support and sharing global best practices to aid in the recovery of the Ukrainian economy.
Black Friday for Ukraine and the World
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