World Bank approves $723 mn loans, grants for Ukraine amid Russia invasion

The World Bank said its executive board on Monday approved a $723 million package of loans and grants for Ukraine, providing government budget support as the country battles a Russian invasion.

The package includes a $350 million loan supplement to a prior World Bank loan, augmented by about $139 million through guarantees from the Netherlands and Sweden, the bank said in a statement.

The package also includes $134 million in grants from Britain, Denmark, Latvia, Lithuania, and Iceland, as well as parallel financing of $100 million from Japan.