The World Bank’s Executive Board has approved the creation of a financial intermediary fund (FIF) to support Ukraine, with contributions expected to come from the USA, Canada and Japan.
Three sources familiar with the decision told Reuters, APA quoted RBC as saying. Two of the interlocutors specified that the only ‘against’ vote was from Russia.
According to the sources, the fund will be managed by the World Bank, and this decision will help fulfil the G7 promise to provide Kiev with additional funding of up to $50bn by the end of the year. One of them said that the exact amounts to be contributed by the US, Japan and Canada were still being worked out, but that they would be backed by profits from frozen Russian assets.
The decision came shortly after EU ambassadors approved a €35bn ($38.3bn) loan for Ukraine, secured with proceeds from blocked Russian assets. The measure still has to be agreed by the European Parliament.
Reuters emphasises that the new fund will allow non-European countries to participate in wider lending.
https://ru.apa.az/evropa/vsemirnyi-bank-odobril-sozdanie-novogo-fonda-dlya-pomoshhi-ukraine-591363
