KYIV, April 13 – Donor and recipient countries of the International Development Association (IDA), which is part of the World Bank, on April 11 approved the provision of $1 billion to Ukraine and $100 million to Moldova in connection with the Russian invasion, World Bank President David Malpass said at a conference in Warsaw Tuesday.

"I'm pleased to announce today that the World Bank is currently preparing a nearly $1.5 billion operation for Ukraine to support continuation of essential government services during the war. This was enabled by yesterday's approval of IDA19 support," he said.

Malpass said that he has been deeply shocked and horrified at Russia's invasion of Ukraine, the atrocities committed against the civilian population, and the loss of life and livelihoods for millions of Ukrainians.

"The attacks on people and infrastructure are causing tremendous suffering, threatening international peace and security, and endangering the basic social and economic needs of people around the world," he said.

He recalled that since the invasion, the World Bank Group has provided fast-disbursing financial support to Ukraine to help the government provide critical services to people, including wages for hospital workers, pensions for the elderly, and social programs for the vulnerable. Through IFC, the World Bank have provided immediate working capital for companies providing supplies to Ukraine, he added.

Malpass said that the World Bank was created in 1944 to help Europe rebuild after World War II.

"As we did then, we will be ready to help Ukraine with reconstruction when the time comes. In the meantime, we are working to help Ukrainian refugees… help communities as they absorb Ukrainians; and help the many millions of internally displaced persons in Ukraine who have lost their homes and livelihoods," the president of the World Bank said.

He added that the bank is analyzing global impacts of the war in Ukraine, including the spike in food and energy prices, and preparing a surge crisis response that will provide focused support for developing countries. (om/ez)