Vice-Minister of Finance M. Liutvinskas: Lithuania actively supports the World Bank’s steps to mobilise support for Ukraine
Vice-Minister of Finance Mindaugas Liutvinskas at today’s meeting with Vice-President of the World Bank Jorge Familiar, visiting Vilnius, discussed the institution’s financial support for Ukraine and Lithuania’s participation in these support measures, as well as prospects for further cooperation.
“We appreciate a significant role of the World Bank in mobilising financial support for Ukraine, including also the immediate reconstruction of war-torn areas. Lithuania actively participates in all support measures for Ukraine – to date we have allocated or pledged EUR 30 million through the World Bank. We intend to continue our cooperation with the World Bank also in the future, helping Ukraine to withstand. Lithuania’s total humanitarian, military and financial support for Ukraine is significantly higher and already exceeds EUR 1 billion, which represents about 1.5 % of our national GDP”, says Vice-Minister of Finance M. Liutvinskas.
This amount of EUR 30 million includes a contribution of EUR 5 million to the World Bank Multilateral Trust Fund to finance Ukraine’s budget, a EUR 10 million State guarantee for a World Bank loan to Ukraine, a contribution of EUR 5 million to the Ukraine Relief, Recovery, Reconstruction and Reform Trust Fund established by the World Bank and a contribution of EUR 10 million to the International Development Association's dedicated Facility to support reconstruction of Ukraine and Moldova and other low-income countries affected by crises.
At the meeting Mr. M. Liutvinskas stressed that it was vitally important to sustain the pace of support for Ukraine in the future. Furthermore, the Bank’s efforts to mobilise resources also for the needs of other developing countries are welcome, as Russia’s brutal war against Ukraine has significant economic and social consequences not only in Ukraine or the region, but also in the whole world.
At the meeting Vice-President of the World Bank J. Familiar presented the Bank’s activities and plans for providing financial support for Ukraine, as well as possible new instruments for the institution to mobilise additional funds for developing countries’ financing needs, responding to global challenges such as climate change, military conflicts, pandemics, etc.
Last updated: 31-08-2023
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