World Bank to give Ukraine US$530m in additional aid

NEW YORK, Oct 1 — The World Bank has said it will provide an additional US$530 million (RM2.4 billion) in support to Ukraine, bringing the total aid by the bank to US$13 billion, as Russia’s invasion of the country continues.

The aid is supported by the United Kingdom (US$500 million) and the Kingdom of Denmark (US$30 million), the World Bank said in a statement.

Of the total aid of US$13 billion to Ukraine to date, US$11 billion has been fully disbursed, the bank added.

The World Bank’s most recent analysis puts the total long-term cost of reconstruction and recovery in Ukraine over the next three years at well over US$100 billion, said Arup Banerji, World Bank Regional Country Director for Eastern Europe. — Reuters