18 Mar 2022 12:23

World Bank allocates nearly $100 mln in emergency support for Ukrainian higher education sector

KYIV. March 18 (Interfax-Ukraine) - The Ukrainian government and the World Bank have agreed on an emergency assistance package for the Ukrainian higher education sector amounting to almost $100 million.

"These funds will allow the payment of academic scholarships for 172,000 students and social scholarships for 50,000 students," the World Bank said early on Friday.

"These scholarship programs will also help to ensure access of students to basic needs and services, ultimately contributing to continued enrollment and improved learning outcomes," the World Bank quoted Arup Banerji, Regional Country Director for Eastern Europe, as saying.

As reported earlier, the World Bank Board of Executive Directors last week approved a supplemental budget support package for Ukraine, called Financing of Recovery from Economic Emergency in Ukraine - or FREE Ukraine. As of now, the volume of financial support for Ukraine mobilized by the World Bank has reached $1.025 billion.

The financing is part of a support package for Ukraine to amount to $3 billion within coming months. Additional support will be rendered to countries absorbing Ukrainian refugees. According to the United Nations Refugee Agency, about 3.2 million people have left Ukraine since February 24.