Saturday, October 01, 2022
The World Bank has said it will provide an additional $530 million in support to Ukraine, bringing the total aid by the bank to $13 billion, as Russia's invasion of the country continues.
The aid is supported by the United Kingdom ($500 million) and the Kingdom of Denmark ($30 million), the World Bank said in a statement.
Of the total aid of $13 billion to Ukraine to date, $11 billion has been fully disbursed, the bank added.
The World Bank's most recent analysis puts the total long-term cost of reconstruction and recovery in Ukraine over the next three years at well over $100 billion, said Arup Banerji, World Bank Regional Country Director for Eastern Europe.
Russian President Vladimir Putin signed treaties on Friday to annex four Ukrainian regions partly occupied by his forces, escalating his seven-month war and taking it into an unpredictable new phase.
"This is the will of millions of people," he said in a speech before hundreds of dignitaries in the St George's Hall of the Kremlin. "People living in Luhansk, Donetsk, Kherson region and Zaporizhzhia region are becoming our compatriots forever."