WASHINGTON –
The World Bank’s board of directors on Thursday approved the creation of a financial intermediary fund (FIF) to support Ukraine, with contributions expected from the United States, Canada and Japan, three sources familiar with the decision said.
The only objection to the vote came from Russia, two sources familiar with the vote said.
The fund, which will be managed by the World Bank, will help fulfill a pledge by the Group of Seven wealthy democracies to provide Ukraine with up to $50 billion in additional financing by the end of the year as the country continues to battle the Russian invasion that started more than two years ago. years ago, the sources say.
