World Bank Mobilizes $4.5 billion in Additional Financing for Vital Support to Ukraine

 

WASHINGTON, August 8, 2022—The World Bank Group today announced $4.5 billion in additional financing mobilized for Ukraine under the Public Expenditures for Administrative Capacity Endurance in Ukraine (PEACE) Project, which aims to help the Government of Ukraine meet urgent needs created by the ongoing war. The financing package is comprised of a $4.5 billion grant provided by the United States.

The additional financing will contribute to sustaining the government’s administrative and service delivery capacity to exercise core functions at the national and regional levels. Specifically, the project will help the Government of Ukraine to cover social payments, healthcare services, and pensions, which are essential for the well-being of the country’s citizens in mitigating the social and economic impacts of the war.

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The World Bank Group and Ukraine

The invasion in Ukraine will have far-reaching economic and social impacts – well beyond780-ukraine-030722 the immediate impact it is already having on the lives and livelihoods of those in the country. The World Bank Group continues to coordinate with Ukraine and other development partners to assess these costs and develop a robust response to help the Ukrainian people during this difficult period.

The World Bank’s overall portfolio of projects in Ukraine supports improvements in basic public services, in areas such as water supply, sanitation, heating, power, energy efficiency, roads, social protection, education and healthcare, and private sector development. Since Ukraine joined the World Bank in 1992, the Bank’s commitments to the country have totaled more than $14 billion in about 90 projects and programs.


“We are a long-standing partner of Ukraine and stand with its people at this critical moment.”
David Malpass
President, World Bank Group
 

World Bank Mobilizes an Emergency Financing Package of over $700 million for Ukraine

 

WASHINGTON, March 7, 2022—The World Bank Board of Executive Directors today approved a supplemental budget support package for Ukraine, called Financing of Recovery from Economic Emergency in Ukraine – or FREE Ukraine – for $489 million. The package approved by the Board consists of a supplemental loan for $350 million and guarantees in the amount of $139 million and is also mobilizing grant financing of $134 million and parallel financing of $100 million, resulting in total mobilized support of $723 million. The fast-disbursing support will help the government provide critical services to Ukrainian people, including wages for hospital workers, pensions for the elderly, and social programs for the vulnerable.

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World Bank Group Stands with Ukraine and its People

Prepares to support countries in the region affected by the conflict World Bank building

WASHINGTON, Feb. 24, 2022—David Malpass, President of the World Bank Group, today released the following statement: 

“The World Bank Group is horrified by the shocking violence and loss of life as a result of the events unfolding in Ukraine. We are a long-standing partner of Ukraine and stand with its people at this critical moment.

Today, I discussed the situation with our Board of Directors and have mobilized our Global Crisis Risk Platform to accelerate coordination across the World Bank Group.

The devastating developments in Ukraine will have far-reaching economic and social impacts. We are coordinating closely with the IMF to assess these costs.

When I met with President Zelenskyy in Munich on Saturday, I reaffirmed the World Bank Group’s strong support and commitment to the people of Ukraine and the region.

We stand ready to provide immediate support to Ukraine and are preparing options for such support, including fast-disbursing financing. Alongside development partners, the World Bank Group will use all our financing and technical support tools for rapid response.

The World Bank Group is also in active dialogue to support neighboring countries and people that may be affected by this conflict and will make additional resources available.”

Prepares to support countries in the region affected by the conflict 

WASHINGTON, Feb. 24, 2022—David Malpass, President of the World Bank Group, today released the following statement: 

“The World Bank Group is horrified by the shocking violence and loss of life as a result of the events unfolding in Ukraine. We are a long-standing partner of Ukraine and stand with its people at this critical moment.

Today, I discussed the situation with our Board of Directors and have mobilized our Global Crisis Risk Platform to accelerate coordination across the World Bank Group.

The devastating developments in Ukraine will have far-reaching economic and social impacts. We are coordinating closely with the IMF to assess these costs.

When I met with President Zelenskyy in Munich on Saturday, I reaffirmed the World Bank Group’s strong support and commitment to the people of Ukraine and the region.

We stand ready to provide immediate support to Ukraine and are preparing options for such support, including fast-disbursing financing. Alongside development partners, the World Bank Group will use all our financing and technical support tools for rapid response.

The World Bank Group is also in active dialogue to support neighboring countries and people that may be affected by this conflict and will make additional resources available.”

The ripple effects of war: How violence can persist after formal peace is declared

When I first visited the Democratic Republic of the Congo in 2007 as a public health menwomenchildrenkenyaresearcher, I was trying to understand the complex issue of how young men get recruited into rebel groups in war-torn regions of central Africa. What I learned was both surprising and heartbreaking: a person who experienced war violence as a child could be more likely to engage in conflict as a young adult. Young men who had experienced extreme war violence in their past would often state this as a reason to take up arms. Even more tragically, these same young men would often struggle to reintegrate peacefully into their communities when hostilities ended. The violence they had experienced their whole lives through war persisted within their homes and communities even when formal peace was declared.

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