Economy News

World Bank Ukraine loan disbursement grows to 460 million euros-sources

WASHINGTON (Reuters) – A World Bank emergency cash disbursement to Ukraine will grow to 460 million euros ($509 million) with contributions from Sweden and the Netherlands, and will be submitted for board approval on Friday, two people familiar with the transaction said.

Ukraine’s government could receive the funds almost immediately after the board approves the loan, which may be delayed until Monday, one of the sources told Reuters.

The disbursement, arranged with unusual speed for the development lender, would provide Ukraine with desperately needed cash to bolster its defense against a Russian invasion that has killed thousands and unleashed bombardments of urban centers and Europe’s largest nuclear power plant.

Source : Reuters

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