World Bank board approves $1.49 billion in funds for Ukraine

By Staff Reuters

Posted June 7, 2022 4:35 pm EST

1 min read

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Just off New Brunswick’s southern coast, the island of Grand Manan is welcoming a family from Ukraine that fled from the war there. As Travis Fortnum reports, it’s a unique situation for both the arrivals and the rural community. – Jun 7, 2022

The World Bank said on Tuesday its board of executive directors approved $1.49 billion of additional financing for Ukraine to help pay wages for government and social workers, expanding the bank’s total pledged support for Kyiv to over $4 billion.

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The World Bank said in a statement that the latest round of funding for Ukraine is supported by financing guarantees from Britain, the Netherlands, Lithuania and Latvia. The project is also being supported by parallel financing from Italy and contributions from a new Multi-Donor Trust Fund.

(Reporting by David Lawder; Editing by Leslie Adler)