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BREAKING
Barrack: We call upon Druze, Bedouins, and Sunnis to put down their weapons and together with other minorities build a new and united Syrian identity building peace and prosperity with their neighbors
US Special Envoy to Syria Tom Barrack: Israeli Prime Minister Benjamin Netanyahu and Syrian President Ahmad al-Sharaa supported by the US have agreed to a ceasefire embraced by Türkiye, Jordan, and their neighbors
YAF spokesperson Brigadier General Yahya Saree: We carried out a top-tier operation targeting Ben Gurion Airport in Lydd with a Palestine 2 hypersonic ballistic missile
Israeli media: Israelis in the Gush Dan area and al-Quds were asked to enter shelters immediately
Sirens sound in Tel Aviv and occupied al-Quds after a missile was launched from Yemen
Sheikh Qassem: We are ready to defend ourselves if 'Israel' attacks us in a way that we believe calls for us to defend ourselves
Sheikh Qassem: "Israel" will never be handed over our weapons
Sheikh Qassem: He who refuses so and accepts humiliation, that is their own business, but for us, we will not accept humiliation. We have made great sacrifices, and our strength has helped us achieve this result
Sheikh Qassem: Be patient with the issue of exclusivity of arms with the state in the face of the great danger that will not spare Lebanon; let us speak with one voice and work for the sake of priority
Sheikh Qassem: Lebanon faces three real dangers: 'Israel', ISIS tools on the eastern border, and US tyranny

World Bank mobilizes over $489 million for Ukraine

  • By Al Mayadeen Net
  • Source: Agencies
  • 8 Mar 2022 15:07
3 Min Read

The World Bank prepares $3 billion in emergency aid for Ukraine, with at least $350 million to be released immediately.

  • x
  • World Bank established a multi-donor trust fund to facilitate the channeling of grant resources.
    World Bank established a multi-donor trust fund to facilitate the channeling of grant resources.

The World Bank approved an additional $489 million package of assistance for Ukraine on Monday, dubbed "Financing of Recovery from Economic Emergency in Ukraine," or "FREE Ukraine," to be made available immediately.

On March 1, the Washington-based organization announced that it was preparing $3 billion in emergency aid for Ukraine, with at least $350 million to be released immediately.

On Monday, the board of directors decided to disburse an even larger sum.

In a statement, it said that “the package approved by the Board consists of a supplemental loan for $350 million and guarantees in the amount of $139 million.” 

“The fast-disbursing support will help the government provide critical services to Ukrainian people, including wages for hospital workers, pensions for the elderly, and social programs for the vulnerable,” it said.

According to the bank, it is "also mobilizing grant financing of $134 million and parallel financing of $100 million, for a total mobilized the support of $723 million."

The Netherlands and Sweden will each contribute up to $89 million and $50 million dollars to the package, respectively, according to the World Bank.

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The lender also stated that it has established a "multi-donor trust fund (MDTF) to facilitate the channeling of grant resources from donors to Ukraine, with contributions totaling $134 million thus far from the United Kingdom, Denmark, Latvia, Lithuania, and Iceland."

It urged members to provide additional grants to supplement funding.

US lethal weapons supplies 

It is worth mentioning that Ukraine has received lethal weapons supplies from the United States from Javelin anti-tank missiles to ammunition.

Last week, the Biden administration has increased the amount of money it is seeking immediately from Congress “in aid for Ukraine” and its Eastern European partners to $10 billion.

The White House had previously requested $6.4 billion in “Ukraine aid”, though appropriators expected the amount to rise as President Biden sends troops and supplies overseas.

Meanwhile, Democrats and Republicans remain at odds over the funding, which could complicate the process of providing “aid” to Ukraine.

The US said that the Ukraine aid would be used to help the country on different fronts most notably on the military front in the face of Russia.

Moreover, European Union members states agreed to allocate more than $500 million for members to buy arms for Ukraine.

  • World Bank
  • Ukraine
  • US
  • Russia
  • Lethal aid
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Russia & NATO

As the Draconian Western-led sanctions on Russia exacerbate the economic crisis worldwide, and as Russian troops gain more ground despite the influx of military aid into Ukraine, exposing US direct involvement in bio-labs spread across Eastern Europe and the insurgence of neo-Nazi groups… How will things unfold?

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