World Bank Continuously Assists Ukraine amid War Vs. Russia
WORLD BANK – The international banking giant approved an additional $1.5 billion in aid for Ukraine amid the ongoing war versus Russia.
The war between Russia and Ukraine has affected a lot of countries across the globe. It led to a global oil problem as the supply cannot meet the demand. Several nations now are facing a series of oil price hikes that have greatly pulled the prices of fuel and oil products up.
The increase in the prices of oil also affects the pricing of several basic needs and commodities of the people. In the Philippines, several basic goods have increased prices and many people were greatly affected financially by the high costs of fuel now.
Several countries expressed condemnation of Russia for invading Ukraine. Big companies also stopped their operation in Russia to express their stand against its move.
The war between Russia and Ukraine led to the deaths of several people including civilians. The superpower is backed by its strength and capacity when it comes to nuclear powers.
The war resulted in a humanitarian crisis in Ukraine and their economy is greatly affected as well. It is apart from the damages to infrastructures and blocked key grain exports. Based on a report on ABS-CBN News, the situation also takes the country’s capacity to pay bills.
To help Ukraine, the World Bank has been providing a support package for the country amid the unfortunate situation. According to the report, it recently approved an additional of $1.5 billion in aid to the nation.
The recent additional aid brings the total support package given by World Bank to Ukraine to $4 billion. The amount is intended to pay the salaries of the government and social workers. Bank President David Malpass assured that they continue to work with donor countries to assist Ukraine in these trying times.
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