The US will assist Ukraine with 4.5 billion dollars through the World Bank

The United States said Tuesday that it will provide through the world Bank funds for 4.5 billion dollars in financial support to Ukraine to “strengthen economic stability and support basic government services.”

“These funds will begin to be disbursed in the coming weeks,” said the Treasury secretary, Janet Yellenit’s a statement.

The announcement comes as kyiv grapples with the fallout from the Russian invasion and intensifying attacks by Moscow’s forces – which have suffered heavy battlefield losses – against Ukraine’s energy infrastructure.

Assistance to the Ukrainian government will help it in that context “by bolstering economic stability and supporting basic government services, including salaries for hospital workers, government employees and teachers,” Yellen added.

In turn, the World Bank (WB) said in a separate statement that the grant will be channeled through its project Public Expenditures for the Resilience of Administrative Capacity in Ukraine (PEACE), part of a multi-million dollar package to help the eastern European country.

The US funds come “at a critical time, as the country faces severe power disruption and colder weather,” World Bank President David Malpass said.

The World Bank has so far approved almost $17.8 billion in emergency financing to support the people of Ukraine, having already disbursed 11.4 billion.

The latest funds bring the total direct US budget support for Ukraine to $13 billion, all in grants, Yellen noted.