KYIV, Dec 21 – The World Bank has approved a new financing package totaling $610 million to address urgent needs in Ukraine: $500 million under the Public Expenditures for Administrative Capacity Endurance (PEACE) Project and $110 million under the Health Enhancement and Life-saving (HEAL Ukraine) Project.

According to a World Bank's press release on Tuesday evening, $600 million of loans from this funding are supported by a guarantee from the United Kingdom for $500 million and Spain for $100 million, respectively, and a $10 million grant from the Global Financing Facility for Women, Children, and Adolescents (GFF).