World Bank approves $723 million emergency financing package for Ukraine

World Bank has approved a $723 million grant package for Ukraine

The World Bank has approved a $723 million grant package for Ukraine, which would help the country’s government budget while it fights a Russian invasion.

Qazet.az reports that the World Bank Board of Executive Directors authorized a supplemental budget support package for Ukraine, termed Financing of Recovery from Economic Emergency in Ukraine for $489 million, according to a statement posted on its website.

Fast-disbursing support, according to the bank, will assist the government in providing important services to Ukrainian citizens, such as wages for hospital employees, pensions for the aged, and social programs for the vulnerable.