World Bank Establishes Financial Fund for Ukraine’s Recovery
In October 2024, the World Bank established a Financial Intermediary Fund (FIF) to support Ukraine’s recovery amid its ongoing war with Russia. Contributions from countries like the US, Canada, Japan, and the European Union, along with immobilized Russian assets, aim to strengthen Ukraine’s economy and ease its financial burden. The fund’s creation aligns with the G7’s pledge of $50 billion by the year’s end, with the World Bank managing the fund. This move highlights international cooperation and the urgent need to help Ukraine during its time of crisis.
If you like this post, please share your feedback in the comments section below so that we will upload more posts like this.
