2 yıl önce

World Bank prepares to disburse up to $350 million to Ukraine

World Bank chief underlined that the group will continue to support Kiev mid and long-term while separately Poland said that it is ready to supply defensive weapons to Ukraine amid Russia standoff.

AP

The initial funds from the World Bank would be followed by further budget support and more reforms.

The World Bank Group has said it is readying a $350 million disbursement to Ukraine that the group's board will consider by the end of March as part of a plan for short- and long-term financing for the country.

In a meeting with Ukrainian President Volodymyr Zelenskyy on Saturday, World Bank President David Malpass said the group will continue to support the Ukrainian people and economy for short- and long-term financing needs, the group said in a statement.

The leaders met in Munich as Russia's strategic nuclear forces held exercises overseen by President Vladimir Putin and Washington accused Russian troops near Ukraine's border's of being "poised to strike".

The initial funds from the World Bank would be followed by further budget support and more reforms, including in the energy and climate areas, the statement said.

Malpass and Zelenskyy also discussed a pipeline of projects for Ukraine, including energy efficiency, infrastructure, railways, and strengthening the economy and job opportunities in eastern Ukraine.

Discussed with @DavidMalpassWBG the increasing role of the World Bank in the stability of the 🇺🇦 financial sector. #WBG President noted economic stabilization, land reform and infrastructure projects in Ukraine. We are grateful for $350 million in financial support.
— Володимир Зеленський (@ZelenskyyUa) February 19, 2022

Poland 'ready' for additional defence supply

On Monday, the World Bank and International Monetary Fund (IMF) said they had temporarily relocated some staff from Ukraine amid rising concerns about a potential Russian invasion, even as their lending to and support work for the country continued.

Over the last year, the World Bank has suspended operations with several countries where coups were staged, including Myanmar and Sudan.

Poland, Ukraine's neighbour, said that it is "ready to supply" Kiev with additional defensive weapons.

Prime Minister Mateusz Morawiecki said on Saturday the weapons to be used to defend Ukraine's territory and places "are against the aggressions of the Russian army."