Ukraine will receive $530M from the World Bank.

The World Bank has announced an additional $530M in support for Ukraine. Of this money, $500M was provided by Great Britain and $30M by Denmark. As of September, the World Bank has mobilized almost $13B in emergency financing for Ukraine. Of this amount, $11B has already been allocated in full. The World Bank’s Regional Director for Eastern Europe, Arup Banerjee, emphasized that the long-term costs of reconstruction and recovery in Ukraine are huge, and the needs for the next three years will reach more than $100B. “This figure is expected to grow as the war continues,” Banerjee added.