World Bank preparing US$1.5b aid package for Ukraine

[WASHINGTON] The World Bank is preparing a new, US$1.5 billion support package for war-torn Ukraine, including a US$1 billion payment from the development lender's fund for the poorest countries, World Bank President David Malpass said on Tuesday.

Malpass, speaking in Warsaw, said the package was enabled by Monday's approval of US$1 billion in International Development Association aid, as well as a US$100 million payment to neighbouring Moldova.

In remarks ahead of next week's World Bank and International Monetary Fund Spring Meetings, Malpass said the bank's support was helping Ukraine to provide critical services, including paying wages for hospital workers, pensions and social programmes.

The aid comes on top of about US$923 million in fast-disbursing financing approved by the World Bank last month. REUTERS