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On top of the $723 million authorised last week, the World Bank stated on Monday that it will provide approximately $200 million in extra and reprogrammed financing to Ukraine's social services for vulnerable individuals.

The funds are part of a $3 billion package of assistance that the World Bank has stated it will provide to Ukraine in the coming months.

President David Malpass of the World Bank said at a virtual event hosted by the Washington Post that the bank hoped to complete the $3 billion package of assistance to help Ukraine meet its needs within six to eight weeks.

The magnitudes are astronomical, according to Malpass. "The economic downturn has hit Ukraine, and the crops in the fields are difficult to harvest." He stated that the Russian military was seeking to cut Ukrainian farmers off from both food and cash.

He described the reconstruction work as "a hard and horrifying operation that's going on virtually day by day," adding that it would include highways, bridges, and other important infrastructure.

He stated, "This amounts to tens of billions of dollars."

As part of the $3 billion package, the bank was moving forward "as much cash as we can" to help Ukraine now, Malpass said, adding that it would also begin developing a pipeline of initiatives to support Ukrainians, some of whom were now living in Poland and abroad.

"Right now, our immediate emphasis is on how we aid the folks who are being attacked."

According to the World Bank, the total amount of help previously granted for Ukraine is roughly $925 million.

Austria had contributed 10 million euros ($11 million) to a World Bank-created multi-donor trust fund to help Ukraine route grant funds from donors. The fund now has a total value of $145 million, according to the bank.