World Bank preparing nearly $1.5B aid package for Ukraine

By Tuba Sahin

ANKARA (AA) - The World Bank is preparing to deliver nearly $1.5 billion in aid to Ukraine which is hit by the Russian war, the World Bank head said on Tuesday.

The package is aimed to help the Ukrainian government to provide critical services to people, including wages for hospital workers, pensions for the elderly, and social programs for the vulnerable, David Malpass said at the Warsaw School of Economics in Poland.

"This was enabled by yesterday’s approval of International Development Association (IDA) support of $1 billion to Ukraine and $100 million to Moldova by IDA donor and recipient countries," he said.

Malpass stressed that the bank is analyzing the global impacts of the war in Ukraine, including the spike in food and energy prices, and preparing "a surge (in) crisis response" that will provide focused support for developing countries.