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In a statement released on Friday, the World Bank said that it will give Ukraine an additional $530 million in assistance to help it “address the pressing requirements stemming from the Russian invasion.
This assistance, which will be given in the form of a new loan through the International Bank for Reconstruction and Development, was awarded with a guarantee of $500 million from Britain and $30 million from Denmark, according to a statement from the International Financial Corporation.
The World Bank Vice President for Europe and Central Asia, Anna Berdy, confirmed in the statement that “the toll of destruction and damage in Ukraine is large and rising, and the support of the international community is also great so far,” adding that “the Ukrainian people face a long road to reconstruction, and partners will continue to support them.”
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According to the banking institution’s estimations, “the long-term rehabilitation expenses are tremendous and substantially exceed $100 billion over the next three years,” she continued.
This takes the total amount of aid provided to Ukraine by the World Bank since hostilities began to 13 billion dollars, of which 11 billion have been delivered.
Before the World Bank’s statement, the US Congress authorised a new round of funding for Ukraine totaling 12.3 billion euros, including 3.
7 billion euros in military hardware, raising the total amount of US assistance given since the start of the Russian invasion to 65 billion euros.
The World Bank announces a 530 billion dollar loan to help Ukraine.
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