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

World Bank's Malpass outlines $700 million in planned loans in call with Ukraine's Zelenskiy
World Bank's Malpass outlines $700 million in planned loans in call with Ukraine's Zelenskiy   -   Copyright  Thomson Reuters 2022
By Reuters

WASHINGTON – 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.