The World Bank said its executive board on Monday approved a $723 million package of loans and grants for Ukraine, providing desperately needed government budget support as the country battles a Russian invasion.
The package includes a $350 million loan supplement to a prior World Bank loan, augmented by about $139 million through guarantees from the Netherlands and Sweden, the bank said in a statement.
It also includes $134 million in grants from Britain, Denmark, Latvia, Lithuania and Iceland, as well as parallel financing of $100 million from Japan.
The World Bank's budget support loans typically do not carry restrictions on how the funds can be spent, but the bank said the "fast-disbursing" support will help Ukraine's government provide critical services, pay hospital workers, fund pensions and continue social programs.
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