The institution will help the G7 implement the plan to allocate $50 billion to Ukraine.
>Reuters claims that the World Bank has decided to create an intermediary fund that will help countries outside Europe join in the allocation of funds to Ukraine under a lending program guaranteed by frozen Russian assets.
During the vote, the initiative was supported by all members of the international financial organization, except for Russia, as expected.
The United States of America, Canada and Japan will finance the fund. The size of the contributions has not yet been determined. However, we are talking about a total of 50 billion dollars by the end of the year from the G7 countries, 35 billion euros of which the European Union agreed on the day before.
World Bank President Ajay Banga claims that the organization has successful experience in managerial support of large non-military funds, which it will also apply in the case of Ukraine.