World Bank board approves $1.49 billion in new funds for Ukraine

FILE PHOTO: The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas/File Photo

WASHINGTON (Reuters) - The World Bank said on Tuesday its board of executive directors approved $1.49 billion of additional financing for Ukraine to help pay wages for government and social workers, expanding the bank's total pledged support for Kyiv to over $4 billion.

The World Bank said in a statement that the latest round of funding for Ukraine is supported by financing guarantees from Britain, the Netherlands, Lithuania and Latvia. The project is also being supported by parallel financing from Italy and contributions from a new Multi-Donor Trust Fund.