World Bank Group announces $1.75-bln support for Kiev

WASHINGTON. June 22 (Interfax) - The World Bank Group has approved a $1.75-billion assistance package for Ukraine, the group said in a statement.

"The World Bank Group announced today $1.75 billion in additional support for Ukraine," the statement said.

These include a $500-million loan from the World Bank guaranteed by the United Kingdom, a $1.25-billion grant from the United States, and a $15-million grant from Finland.

The funding will be provided under the Public Expenditures for Administrative Capacity Endurance (PEACE) program, the group said.

The project, which involves loans and grants from the World Bank and other partners, currently stands at $19.745 billion.

"We signed today with [World Bank Managing Director of Operations Anna Bjerde] an agreement to raise $500 million from the UK as part of a $1.76 billion assistance package for Ukraine. The aid will be provided with the support of the U.S., the UK and Finland," Ukrainian media outlets quoted Ukrainian Prime Minister Denis Shmygal as saying in a social media post.

The World Bank has been among the leaders in mobilizing resources to assist Ukraine, he said.

The funds will be spent on paying salaries to rescuers and teachers, on pensions, support for low-income families, children with disabilities, internally displaced persons, single mothers, and on paying for healthcare services under the medical guarantees program, Shmygal said. 

The Ukraine Recovery Conference (URC) took place in London on Wednesday. British Prime Minister Rishi Sunak said at the event that London would provide a $3-billion loan guarantee for Ukraine within the next three years. U.S. Secretary of State Antony Blinken said for his part that Washington would allot more than $1.3 billion for upgrading the Ukrainian energy system and infrastructure.

German Foreign Minister Annalena Baerbock announced an additional humanitarian assistance package for Ukraine amounting to 381 million euros.