KYIV, March 8 – The World Bank Board of Executive Directors has approved a supplemental budget support package for Ukraine, called Financing of Recovery from Economic Emergency in Ukraine – or FREE Ukraine – for $489 million.

"The package approved by the board consists of a supplemental loan for $350 million and guarantees in the amount of $139 million and is also mobilizing grant financing of $134 million and parallel financing of $100 million, resulting in total mobilized support of $723 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," the bank said on its website.