World Bank approves $723 million emergency financing package for Ukraine

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The World Bank has approved a $723 million grant package for Ukraine, which would help the country’s government budget while it fights a Russian invasion.

According to a statement posted on the World Bank’s website, the World Bank Board of Executive Directors authorized a $489 million supplemental budget support package for Ukraine titled Financing of Recovery from Economic Emergency in Ukraine.

According to the bank, fast-disbursement assistance will help the government provide important services to Ukrainian citizens, such as wages for hospital employees, pensions for the elderly, and social programs for the vulnerable.

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