World Bank to Provide Financial Aid to Ukraine

The World Bank is preparing a USD 3 billion support package for war-hit Ukraine in the coming months and the International Monetary Fund (IMF) is soon considering requests for emergency financing.

World Bank Group President David Malpass and IMF Managing Director Kristalina Georgieva announced the package for the country in a joint IMF-World Bank Group statement on the War in Ukraine on Tuesday.

The statement said, "We are deeply shocked and saddened by the devastating human and economic toll brought by the war in Ukraine. People are being killed, injured, and forced to flee, and massive damage is caused to the country's physical infrastructure. We stand with the Ukrainian people through these horrifying developments.”

The statement also said that the IMF-World Bank Group are working together to support Ukraine on the financing and policy fronts.
The World Bank and the IMF are also working together to assess the economic and financial impact of the conflict and refugees on other countries in the region and the world.

"We stand ready to provide enhanced policy, technical, and financial support to neighboring countries as needed. Coordinated international action will be crucial to mitigate risks and navigate the treacherous period ahead. This crisis affects the lives and livelihoods of people around the world, and we offer them our full support," the statement added.