World Bank announces $530 million in new funding for Ukraine ...Middle East

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WASHINGTON: The World Bank has announced $530 million in supplemental funding for Ukraine to enable it to “meet urgent needs created by Russia’s invasion.”The support, in the form of a new loan from the International Bank for Reconstruction and Development, is being guaranteed by Britain to the tune of $500 million, with Denmark backing the remaining $30 million, the World Bank said in a statement on Friday.“The toll of destruction, damage, and dislocation in Ukraine is staggering and continues to grow,“ Anna Bjerde, the bank’s regional vice president for Europe and Central Asia, said in the statement.“The Ukrainian people have a long road to recovery ahead and development partners will need

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