World Bank Provides 1.8 Trillion Won Financial Support to Ukraine to "Maintain Public Services"

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[Asia Economy Reporter Kim Bo-kyung] The World Bank (WB) has decided to provide $1.5 billion (approximately 1.8 trillion KRW) to help Ukraine sustain the functions of the state that take care of its citizens' lives.

According to the UK Guardian on the 13th, the WB announced this financial support plan to ensure that Ukraine can maintain public services while fighting against Russia's invasion.

The WB explained that the funds will be allocated to essential government functions such as salaries for medical personnel, pensions for the elderly, and social programs for vulnerable groups.

David Malpass, President of the WB, also stated that working capital (funds necessary for a company's daily operations) will be provided to companies supplying essential goods or services to Ukraine.

President Malpass said, "We are working to assist the return plans of refugees, foreign communities hosting Ukrainians, and millions of displaced persons who have lost their homes and livelihoods within Ukraine."

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