Ds Scholarship

World Bank to issue $100 mn as scholarship for Ukraine students pursuing higher education

In a key development, as reported by Interfax-Ukraine earlier, the World Bank will allocate $100 million to students in the war-torn country. The monetary assistance has been pursuing with an aim of aiding students higher education with scholarships. The fund will be provided in academic scholarships for 1,72,000 students in the 2021-2022 academic year.

World Bank’s statement announcing the decision reads, “Thanks to the new component of the Ministry of Education and the World Bank Improving higher education in Ukraine for results, funding of almost 100 million dollars is provided to repay the government budget program in the education sector. “

World Bank issues $923 mn financial aid to Ukraine amid Russian invasion

Notably, in the wake of Russia’s invasion of Ukraine, the President of the World Bank, David Malpass recently announced that the war-torn nation will avail $923 million as financial help from the financial institution Malpass went on to say that last week, they have completed $325 million in disbursements. He further added, “We now have $923 million that has been made available over the last two weeks including that first disbursement for Ukraine,” reported ANI.

Alongside this, the World Bank, earlier on March 7, also approved a $723 million loan as well as a grant package for the war-torn country, in the form of financial help. As per their statement, the World Bank has authorized a $489 million additional financial support package for Kyiv, which is known as FREE Ukraine (Financing of Recovery from Economic Emergency in Ukraine). The bank has even asserted that the quick disbursement of funds would assist the government in providing important services to Ukrainian citizens, such as pay for hospital personnel, pensions for the aged, and social programs for the poor.

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