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World Bank's Malpass outlines $700 million in planned loans in call with Ukraine's Zelenskiy

Economy Mar 04, 2022 22:00
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© Reuters. FILE PHOTO: World Bank President David Malpass attends the UN Climate Change Conference (COP26) in Glasgow, Scotland, Britain, November 3, 2021. REUTERS/Yves Herman

WASHINGTON (Reuters) - World Bank President David Malpass told Ukrainian President Volodymyr Zelenskiy on Friday the bank was working on loan programs worth about $700 million for Ukraine that would be disbursed by the end of March, the bank said.

Malpass said the bank was submitting a supplemental loan worth nearly $500 million to the board on Friday, with new projects and restructuring of ones to provide an additional $200 million in fast-disbursing support by the end of March.

He said the World Bank had also set up a fast-disbursing multi-donor trust fund (MDTF) to help channel grant resources from donors to Ukraine, with over $130 million in commitment received to date from Britain, Denmark, Latvia, Lithuania, and Iceland.

World Bank's Malpass outlines $700 million in planned loans in call with Ukraine's Zelenskiy
 

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