The World Bank Group and International Monetary Fund have announced they will support Ukraine with about $5.2bn.
According to the IMF, $2.2bn will be available to Ukraine between now and the end of June. The World Bank added that it would approve about $350m this week, followed by $200m for health and education.
“Our institutions are working together to support Ukraine on the financing and policy fronts and are urgently increasing that support. We have been in daily contact with the authorities on crisis measures.
“At the IMF, we are responding to Ukraine’s request for emergency financing through the Rapid Financing Instrument, which our Board could consider as early as next week. In addition, we continue to work on Ukraine’s Stand-By Arrangement programme, under which an additional $2.2bn is available between now and the end of June.
“At the World Bank Group, we are preparing a $3bn package of support in the coming months, starting with a fast-disbursing budget support operation for at least $350m that will be submitted to the Board for approval this week, followed by $200m in fast-disbursing support for health and education.
“This package will include the mobilisation of financing from several development partners, and we welcome the already-announced support from many bilateral partners.”