KYIV, June 8 – The World Bank Board of Executive Directors Wednesday approved $1.49 billion of additional financing for Ukraine under the Public Expenditures for Administrative Capacity Endurance in Ukraine Project, the bank said on its website on Wednesday night.

Funding from this latest project will be used to pay for wages for government and social workers," the bank said.

According to the press release, the project has benefited from financing guarantees from the United Kingdom, the Netherlands, Lithuania, and Latvia; parallel financing from Italy and expected future guarantees, including from Denmark.

The project has also been co-financed by contributions to a new Multi-Donor Trust Fund (MDTF) from several countries, including Switzerland.

The World Bank Group is providing continuing support for Ukraine and its people in the face of the ongoing war," World Bank Group President David Malpass said.

According to him, the World Bank is working with donor countries to mobilize financial support and leveraging the flexibility of our various financing instruments to help provide Ukrainians with access to health services, education and social protection.

Maintaining these core services, and the ability of the government to deliver them, is essential to preventing further deterioration in living conditions and poverty in Ukraine beyond the suffering inflicted on the population because of the war," World Bank Country Director for Eastern Europe Arup Banerji said. (om/ez)