The World Bank said on Monday it had disbursed an additional $500 million to help Ukraine meet urgent spending needs created by Russia’s Feb. 24 invasion and the ongoing war.
The financing by the International Bank for Reconstruction and Development, the bank’s main lending arm, was supported by $500 million in loan guarantees from Britain that were announced on Sept. 30, the bank said.
It comes on the eve of a recovery conference taking place in Berlin on Tuesday, where national leaders, development experts and CEOs will discuss how to rebuild Ukraine after Russia’s invasion, now entering its ninth month.
World Bank disburses additional $500 mln to Ukraine
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