WASHINGTON (Reuters), -The World Bank Group said Saturday it was preparing a $350m disbursement for Ukraine. The board of the bank will review the decision by March 31 as part of a plan to provide short- and longer-term financing.

On Saturday, World Bank President David Malpass met with Ukrainian President Volodymyr Zelenskiy. He stated in a statement that the Bank will continue its support for the Ukrainian economy and people.

As Russia’s nuclear strategic forces were holding exercises in Munich, President Vladimir Putin supervised them. Washington also accused the Russian soldiers near Ukraine’s borders of being “poised for strike”.

A statement stated that the World Bank’s initial funds would be followed up by additional budget support and further reforms including those in energy and climate. Malpass and Zelenskiy discussed the possibility of a series of projects in Ukraine that would include energy efficiency, infrastructure and railways as well as strengthening economic and employment opportunities.

Monday’s announcement by the World Bank/International Monetary Fund that some of their staff had been temporarily transferred from Ukraine was due to rising Russian invasion fears. However, they continued lending and supporting the country.

The World Bank suspended its operations in several countries, including Myanmar, where coups have been staged over the past year.