WASHINGTON, March 4, 2022 ¨C Today, ÐÓ°ÉÂÛ̳ Group President David Malpass spoke with Volodymyr Zelenskyy, President of Ukraine.
President Malpass expressed his admiration for President Zelenskyy¡¯s leadership throughout the war in Ukraine, and his and the nation¡¯s heroism.
President Malpass affirmed that the ÐÓ°ÉÂÛ̳ is submitting a supplemental loan for Ukraine to the Board today. President Malpass noted that the loan, called Financing of Recovery from Economic Emergency in Ukraine ¨C or FREE Ukraine ¨C is being increased with guarantees from bilateral partners, including the Netherlands and Sweden, allowing the total amount of support to increase to nearly $500 million. President Malpass and President Zelenskyy discussed the importance of consolidating development support to streamline approval processes and maximize impact. President Malpass also noted that the ÐÓ°ÉÂÛ̳ is working to prepare new projects, and restructure existing ones, to provide an additional $200 million in fast-disbursing support by the end of March.
President Malpass and President Zelenskyy discussed the critical need for grant financing from donors. President Malpass noted that the ÐÓ°ÉÂÛ̳ has set up a fast-disbursing multi-donor trust fund (MDTF) to facilitate channeling grant resources from donors to Ukraine. President Malpass noted that the MDTF has commitments of over $130 million and expressed his appreciation to the UK, Denmark, Latvia, Lithuania, and Iceland for their pledges. President Malpass and President Zelenskyy also discussed Ukraine¡¯s financing needs, additional funding for the MDTF, and other sources of funds that Ukraine is mobilizing.
