Russia’s troop build-up on Ukraine’s border and the threat of a broad full-scale incursion sent alarmed chancelleries scurrying to make calls for Moscow to step back from the brink.

The country's economy has been hit hard by the COVID-19 pandemic restrictions and contracted by 4.4 percent last year. In the first quarter of this year, Ukraine's gross domestic product (GDP) contracted by 2 percent year-on-year, casting doubt on 2021 growth predictions, which are in the range of 4-5 percent.

The agreements were touted by officials as measures to boost industry and improve living standards and focused on efforts to diversify sources of supply, including the purchase of 130 electric locomotives by rolling stock manufacturer Alsthom to Ukrzaliznytsia – the national rail network - for a total of 900 million euros.

The Bank announced the loan backing a $90 million project to streamline and improve Ukraine's health sector response to the pandemic. The project, Ukraine Emergency COVID-19 Response and Vaccination, will provide reimbursement of expenditures to Ukraine’s health service to proceed with about 10 million vaccinations.

A canal dug and brought into service in Soviet times to provide water for irrigation in Crimea – but now blocked and disused – could this be the next flashpoint in the conflict pitting Russia and Ukraine?