World
Posted: 3 months ago

IMF and WB Allocate $5.2 Billion for Ukraine

The International Monetary Fund and the World Bank support Ukraine.

According to the financial institutes, the war adversely affects other countries, prices increase as well as risks for inflation, which particularly hurts the poor. At the same time, in the event of a prolongation of the conflict, financial institutions expect complications in the financial markets.

The International Monetary Fund (IMF) says it has responded promptly to Ukraine's request for quick financing and the council plans to consider it next week.

The fund is also working on Ukraine's Stand-by Arrangement programme, under which an additional $2.2 billion will be available by the end of June.

As for the World Bank, it will approve a $3 billion financial assistance in the coming months, which will be distributed in different directions.