💨 Abstract

The World Bank's executive board has approved the creation of a financial intermediary fund to support Ukraine, with expected contributions from the US, Canada, and Japan. The fund, to be administered by the World Bank, aims to fulfill a pledge by G7 countries to provide Ukraine with up to $50 billion in additional funding by the end of the year, backed by interest from frozen Russian sovereign assets.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖