Feb 19, 2022 - World

World Bank prepares $350M to allocate to Ukraine

Ukrainian servicemen patrolling along the frontline outside of Svitlodarsk on Feb. 19, 2022. Photo: Wolfgang Schwan/Anadolu Agency via Getty Images

The World Bank on Saturday said it was preparing a $350 million disbursement to Ukraine to be considered by the group's board by the end of March, Reuters reports.

Driving the news: The disbursement would be part of a plan for short- and long-term financing, World Bank President David Malpass said in a meeting with Ukrainian President Volodymyr Zelensky, per Reuters.

  • The World Bank package would also include further budget support, per Reuters.
  • The World Bank did not immediately respond to Axios' requests for comment.

State of play: The World Bank and the International Monetary Fund earlier this week announced that they were relocating some staff from Ukraine amid rising concerns over a Russian invasion.

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