World Bank approves creation of financial trust fund for Ukraine worth at least USD 10B

According to Ukrinform, citing the government portal, this was announced by Prime Minister Denys Shmyhal during a government meeting on October 11.

“The World Bank Board of Directors has approved the creation of a special financial trust fund for Ukraine. The size of this fund will be at least USD 10 billion. The main donors will be the United States and several other countries, and in the future the size of the fund may be increased when other donors join it,” he said.

Shmyhal noted that the fund will primarily be used to support the budget - salaries and social expenditures, as well as critical recovery needs.

As Ukrinform reported earlier, the EU Council on Wednesday agreed to provide Ukraine with macro-financial assistance worth 35 billion euros, as well as a new mechanism to help Ukraine repay loans worth up to 45 billion euros provided by the EU and G7 partners.