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IMF, World Bank approves Ukraine’s $5.2bn lifeline reques

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Ukrainian servicemen get ready to repel an attack in Ukraine’s Lugansk region on February 24, 2022. Anatolii STEPANOV / AFP

Factual Pursuit of Truth for Progress

 

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An announcement has been made by the International Monetary Fund and World Bank Group of their response to Ukraine’s request for urgent financing with about $5.2bn cumulatively.

They made the disclosure in a joint release titled, ‘Joint IMF-World Bank Group statement on the war in Ukraine’ published on the IMF website on Thursday.

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According to the IMF, $2.2bn will be available to Ukraine between now and the end of June. The World Bank added that it would approve about $350m this week, followed by $200m for health and education.

They said, “Our institutions are working together to support Ukraine on the financing and policy fronts and are urgently increasing that support. We have been in daily contact with the authorities on crisis measures.

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“At the IMF, we are responding to Ukraine’s request for emergency financing through the Rapid Financing Instrument, which our Board could consider as early as next week.
‘’ In addition, we continue to work on Ukraine’s Stand-By Arrangement programme, under which an additional $2.2bn is available between now and the end of June.

“At the World Bank Group, we are preparing a $3bn package of support in the coming months, starting with a fast-disbursing budget support operation for at least $350m that will be submitted to the Board for approval this week, followed by $200m in fast-disbursing support for health and education.

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“This package will include the mobilization of financing from several development partners, and we welcome the already-announced support from many bilateral partners.”

They both added that they were working together to assess the economic and financial impact of the conflict and refugees on other countries in the region and the world.

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Furthermore, they said the war is creating significant spillovers to other countries as commodity prices are being driven higher amidst rising concern of increasing inflation levels.

The IMF and World Bank added that disruptions in financial markets would continue to worsen if the conflict lingers.

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VeekiRoyce Set To Splash Thousands On Fans To Celebrate Her New Single “Oba”

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VeekiRoyce Set To Splash Thousands On Fans To Celebrate Her New Single

Veekiroyce, Nigeria gospel artiste currently trending with her hit single “On God”  has finally revealed her intentions to help few fans in what she tagged #Obagiveawaychallenge.

 

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Veekiroyce who suddenly got into lime light in December last year with “On God” has taken to her Instagram handle to reveal her plans on celebrating her new single “OBA” .

 

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VeekiRoyce Set To Splash Thousands On Fans To Celebrate Her New Single

 

With this move, veekiroyce is set to become amongst the few gospel artiste to run an online give away in recent time.

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Follow @veekiroyce for the cash splash..

 

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See prove.

 

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https://www.instagram.com/tv/Cdpm2ABF5o1/?igshid=YmMyMTA2M2Y=

 

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Police destroy over 4000 wraps of illicit drugs worth N10m in Lagos

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Police destroy over 4000 wraps of illicit drugs worth N10m in Lagos

Lagos State Police Command on Tuesday May 17, destroyed over 4000 wraps of illicit drugs worth N10 million at Ewu-Elepe Dump Site, Ikorodu.

 

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The drugs were intercepted by RRS officials on patrol of Mile 2 around 4:00 am on 3rd of April, 2022.

 

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Present at the site of the destruction were the Deputy Commissioner of Police in charge of Operations, DCP Ahmed Kontangora, Commander RRS, CSP Yinka Egbeyemi, and  representatives of the NDLEA, NAFDAC, KAI, LSNC, etc.

 

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Police destroy over 4000 wraps of illicit drugs worth N10m in Lagos

Police destroy over 4000 wraps of illicit drugs worth N10m in Lagos Police destroy over 4000 wraps of illicit drugs worth N10m in Lagos Police destroy over 4000 wraps of illicit drugs worth N10m in Lagos

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Homeless ex-convict arrested for shooting father of five to death in park

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Homeless ex-convict arrested for shooting father of five to death in park

A homeless ex-convict has been arrested for shooting a 62-year-old father of five to death in a Bronx park, New York five months ago.

 

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Ricardo Ferguson, 36, is charged with murder, manslaughter and gun possession for the December 5 shooting of Robert Brown, 62 (pictured above)

Ferguson and another man got into an argument with the victim inside Aqueduct Walk Park, and then allegedly shot him in the head, police said on Tuesday, May 5.

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Before he was shot Brown was sitting on a park bench just steps from home.

After he was shot First emergency responders found him face down on the ground, he was rushed to hospital but it was too late as he couldn’t be saved

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Brown’s family said they couldn’t understand why anyone would kill the  father of five who was well liked by everyone in the community.

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“My brother was loving and giving,” said his sister, Tina Brown, 48. “He would help anyone. He was just catching some air in the park. This is unbelievable.”

Police revealed that Ferguson had about eight previous arrests and he was released from prison in Sept. 2020 after serving time for gun possession.

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