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Ukraine to Receive $723 Million in World Bank Emergency Finance

Ukraine will receive a little over $700 million in emergency financing from an emergency package pulled together by the World Bank to help fund the country’s essential services as its army and citizens battle invading Russian forces.

The package includes a supplemental loan and guarantees, grant financing and parallel financing for total support of $723 million, the World Bank said in a statement. The funds are designed to allow the government to pay wages for hospital workers, pensions for the elderly, and social programs for the vulnerable, it said.