World Bank approves over $2 billion aid package for Ukraine

The World Bank (WB) announced on December 18 that its executive board has approved $2.05 billion in aid under the Development Policy Program (DPO) for Ukraine, including the first tranche of aid from the US's new $20 billion loan fund for Ukraine, which uses revenue from frozen Russian assets.

The new aid package - aimed at boosting Ukraine's financial and economic stability - also includes $1.05 billion in aid from the World Bank, bolstered by loan guarantees from a trust fund backed by Japan and the UK, the statement said.

The British government also announced a new military aid package worth £225 million ($286 million) for Ukraine, including drones, ships and air defense systems.

The move comes after British Defense Secretary John Healey's visit to Kiev on December 18.

During the visit, Mr Healey held talks with his Ukrainian counterpart Rustem Umerov and pledged to increase London's support for Kiev by 2025.

Last July, Britain also pledged £3 billion in military aid a year to Ukraine until 2030-2031.

Also on December 18, the Swiss Government decided to support Ukraine with nearly 45 million francs (about 49 million USD) to help the country get through the winter.

The funds will be used to repair energy infrastructure, rehabilitate damaged housing and meet urgent humanitarian needs.

Ukraine has now lost more than 50% of its energy output due to the conflict, leaving millions of people without adequate electricity, heating and water.