The Executive Board of the World Bank approved the creation of a financial intermediary fund (FIF ) to support Ukraine, as part of efforts to mobilize up to $50 billion in additional financing from the G7 by the end of the year. Among the fund's main donors will be the US, Canada and Japan, and the funds will be supported by interest from frozen Russian assets. The only objection came from Russia, cited by BTA.
The World Bank's decision follows the European Union's agreed funding for Ukraine of up to 35 billion euros, part of a larger loan from the G7. These measures aim to help Ukraine in its ongoing conflict with Russia and fulfill promises made at the G7 meeting in June.