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Reuters

Business

David Lawder and Andrea Shalal

World Bank approves $723 million in loans, grants for Ukraine

Ukraine World Bank

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

The World Bank said its executive board on Monday approved a $723 million package of loans and grants for Ukraine, providing desperately needed 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.

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