Shmyhal: WB allocating over $1B to Ukraine

The World Bank (WB) is allocating an additional $1.34 billion to Ukraine, according to RBC-Ukraine with reference to the statement of Prime Minister of Ukraine Denys Shmyhal on social networks, Report informs.

“These funds will be used to pay pensions, teachers’ salaries, support for IDPs and other priority expenses of the state budget,” the head of government noted.

The bulk of this funding package comes from the Japanese government ($1.086 billion). The other part includes grants from the US, Switzerland and the Fund for Support, Reconstruction and Reform of Ukraine.

Shmyhal added that financial assistance from international partners allows Ukraine to ensure macro-financial stability and direct all internal resources to the needs of the army.

At the beginning of December, the World Bank announced that Ukraine would receive $1.2 billion in financial support.