Washington: The World Bank announced that it is preparing a $3 billion aid package for war-torn Ukraine, which will including at least $350 million in immediate funds.
The first tranche of the aid “will be submitted to the Board for approval this week, followed by $200 million in fast-disbursing support for health and education,” World Bank President David Malpass said in a joint statement with IMF Managing Director Kristalina Georgieva.
The International Monetary Fund and World Bank in recent days had pledged to provide further support to Ukraine and have moved quickly to put that promise into motion.
The IMF, which has an ongoing $2.2 billion financing program with the country through June, will consider the country’s latest request for emergency financing “as early as next week,” the statement said.