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The World Bank on Wednesday announced nearly $200 million in additional financing to bolster Ukraine’s social services for vulnerable people.
The bank said in a statement that it had previously mobilised $723 million for the country, which has been battling an invasion by neighbouring Russia for three weeks, $350 million of which has already been disbursed.
It is part of a $3 billion package of support that the World Bank Group previously announced that it is preparing for the country over the coming months.
The bank said Austria has contributed €10 million ($11 million) to the multi-donor trust fund (MDTF) set up by the World Bank to facilitate channeling grant resources from donors to Ukraine.
The total donation to the fund so far is $145 million.
“The ongoing war continues to have severe human costs and has created financing gaps that jeopardize the ability of vulnerable people in Ukraine to meet basic needs,” said World Bank Group President David Malpass.
“This rapid support will help to bridge those gaps during a time of extreme disruption as we work on broader support efforts for Ukraine and the region.”
While the full impact remains uncertain, the Russian invasion of Ukraine is causing a growing number of civilian casualties, destroying livelihoods, and damaging critical civilian infrastructure, including homes, water and sanitation, schools, health facilities and highways, the bank concluded.
Reports suggest thousands of civilians have been killed by the conflict, and more than three million displaced.
(Reporting by Imogen Lillywhite; editing by Daniel Luiz)
