World Bank is preparing to allocate $350 million aid to Ukraine to support reforms

Aid to Ukraine

The World Bank is considering allocating up to USD 350 million to Ukraine to support reforms, the agency's chief David Malpass said during a Saturday meeting with the Ukrainian President Volodymyr Zelenskyy.

"President Malpass affirmed that the World Bank is preparing quick disbursing budget support - for Board consideration by the end of March - of up to $350 million to support ongoing reforms," the bank said in a statement following the meeting, reported Qazet.az.

Malpass stressed that the assistance will be further rendered to Ukraine. Earlier, on Tuesday, the US also reaffirmed its strong commitment to the Ukrainian people and the Biden administration has offered a sovereign loan guarantee to Ukraine of up to USD 1 billion to support Ukraine's economic reform agenda and continued engagement with the International Monetary Fund (IMF) amid Russia's military buildup.