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World Bank readies $350 million Ukraine disbursement, pledges more support

Economy Feb 19, 2022 02:05PM ET
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© Reuters. FILE PHOTO: A participant stands near a logo of World Bank at the International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. REUTERS/Johannes P. Christo

WASHINGTON (Reuters) -The World Bank Group on Saturday said it is readying a $350 million disbursement to Ukraine that the group's board will consider by the end of March as part of a plan for short- and long-term financing for the country.

In a meeting with Ukrainian President Volodymyr Zelenskiy on Saturday, World Bank President David Malpass said the group will continue to support the Ukrainian people and economy for short- and long-term financing needs, the group said in a statement.

The leaders met in Munich as Russia's strategic nuclear forces held exercises overseen by President Vladimir Putin and Washington accused Russian troops near Ukraine's border's of being "poised to strike".

The initial funds from the World Bank would be followed by further budget support and more reforms, including in the energy and climate areas, the statement said. Malpass and Zelenskiy also discussed a pipeline of projects for Ukraine, including energy efficiency, infrastructure, railways, and strengthening the economy and job opportunities in eastern Ukraine.

On Monday, the World Bank and International Monetary Fund said they had temporarily relocated some staff from Ukraine amid rising concerns about a potential Russian invasion, even as their lending to and support work for the country continued.

Over the last year, the World Bank has suspended operations with several countries where coups were staged, including Myanmar and Sudan.

World Bank readies $350 million Ukraine disbursement, pledges more support
 

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Comments (17)
Ac Tektrader
Ac Tektrader Feb 19, 2022 7:06PM ET
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Putin and his Russian oligarchs want the ability to rob the Ukrainians, destroy Ukrainian Democracy, and institute a dictatorship loyal and subject to the wims of the thugs in the Kremlin.
Jeff Tugwood
Jeff Tugwood Feb 19, 2022 6:53PM ET
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Here’s an idea to make more people take notice and drive the price towards 0.1 or even 0.10. Let’s do a 100/1 reverse split and maybe a little buy back to boost confidence in Shiba to non- community members. Maybe then we could even see a dollar in our lifetimes
Ac Tektrader
Ac Tektrader Feb 19, 2022 6:20PM ET
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yes roger if the West left Putin alone Europe would be peaceful after Russia's reconquest of Eastern Europe. after all that is Putin's stated goal. the Ukrainians are supported by both Republican, and Democratic, American political parties.
Ac Tektrader
Ac Tektrader Feb 19, 2022 6:12PM ET
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Roger finally got your marching orders from theKremlin...
Roger Miller
Roger Miller Feb 19, 2022 6:06PM ET
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Looks like the Ukraine people will either be slaves to the World Bank and the US, or Russia.  Maybe if the war mongering Democrats would leave things alone the world would be a more peaceful place.  They should finish cleaning up their other messes before creating new ones.
Ac Tektrader
Ac Tektrader Feb 19, 2022 5:37PM ET
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Putin and his Russian oligarchs want the ability to rob the Ukrainians, destroy Ukrainian Democracy, and institute a dictatorship loyal and subject to the wims of the thugs in the Kremlin.
Roger Miller
Roger Miller Feb 19, 2022 5:37PM ET
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That's what all these politicians and bureaucrats want, not matter which side you're on.  Just look at how many poor people live in oil rich countries, even in countries where their own governments control of the reserves.
Ac Tektrader
Ac Tektrader Feb 19, 2022 5:14PM ET
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I'm guessing if the rumore are true, about more portable crematoriums, the Russian military is going to try and hide the number of Russian fatalities from the Russian public like they did in their conquest of Crimea.
Ac Tektrader
Ac Tektrader Feb 19, 2022 5:08PM ET
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350 million will buy a lot of anti personal weapons that will ***a lot of Russian military. I hear rumors the Russians just enlarged the order of body bags,and ordered more portable crematoriums.
Ac Tektrader
Ac Tektrader Feb 19, 2022 5:03PM ET
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ever notice how angry Russian trolls get when you call them on their *******....
paul franscella
paul franscella Feb 19, 2022 4:48PM ET
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So this is all just a big money launder
 
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