Dear Liam,

Thank you for your powerful and heart-felt letter to President Malpass and Managing Director Georgieva. On behalf of the World Bank Group, we are all of course horrified by the ongoing plight of the people of Ukraine, a country that has been a longstanding partner. In addition to the immediate human cost of this violent war, the conflict threatens to erase decades of development gains made by Ukraine, with spillover effects impacting so many people around the world.

As you will have seen, President Malpass spoke with President Zelenskyy on March 4, assuring him of the World Bank Group’s readiness to provide fast-disbursing financial support to Ukraine. An earlier joint statement from the World Bank Group and International Monetary Fund expressed our willingness to collectively support the country on policy and financing. Soon after the conversation between Presidents Zelenskyy and Malpass, our Board swiftly followed with approval of an emergency financing package of over $700 million to help the government provide critical services to the Ukrainian people, including wages for hospital workers, pensions for the elderly, and social programs for the vulnerable. We were pleased to see President Zelenskyy’s acknowledgment. This recent support is part of a nearly $3 billion package of financing we are preparing for Ukraine in the coming months.

For neighboring countries who are receiving Ukrainian refugees, the Bank and its partners stand ready to provide enhanced policy, technical, and financial support, if called upon to do so. We are also monitoring the impacts of the conflict and sanctions on developing countries globally to assist them in managing any shocks.

Please be assured of our full commitment to mobilize support to alleviate the needless suffering imposed by this war.

All best,

Sheila