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World Bank approves $610-million aid package for Ukraine

It includes projects to step up efforts to help and rebuild the country

WASHINGTON, December 21. /TASS/. The World Bank has approved allocating $610 million "to address urgent needs in Ukraine," the organization said in a statement on Tuesday.

"The World Bank Group today announced a new financing package that includes projects to boost relief and recovery efforts for Ukraine amid the ongoing war," the statement says.

The World Bank will provide additional financing of $500 million through a loan of the International Bank for Reconstruction and Development (IBRD) that is supported by a guarantee from the United Kingdom. These funds will "help the Government of Ukraine with expenditures related to child and family benefits, salaries of public employees, and utility payments."

"The World Bank will also support Ukraine with a new project to restore and improve access to health care. <…> The Health Enhancement and Life-saving (HEAL Ukraine) Project will improve and strengthen primary health care, address increased demand for mental health and rehabilitation services due to the war, restore and strengthen service delivery in hospitals <…> and support capacity building for key health institutions," the statement says.

The initial funding for the project includes a 100 million euro (over $105 million) IBRD loan, and a $10 million grant from the Global Financing Facility for Women, Children, and Adolescents (GFF). Additional funds for the project are expected to grow to a total of $500 million.

"The World Bank has mobilized $18 billion in emergency financing in support of the people of Ukraine," World Bank Group President David Malpass said, adding that $15 billion have already been allocated.

On February 24, Russian President Vladimir Putin announced that, in response to a request from the Donbass republics, he made a decision to carry out a special military operation in Ukraine. He underscored that Moscow does not plan to occupy Ukrainian territories, instead planning to demilitarize and denazify the country. In response, the West started introducing sweeping sanctions against Russia and shipping weapons and military vehicles to Kiev already worth tens of billions of dollars at this point.

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