World Bank Approves New Financial Support Fund for Ukraine

The World Bank's executive board has approved a new financial intermediary fund to aid Ukraine, with backing anticipated from the US, Canada, and Japan. Russia opposed the decision.

The World Bank's executive board has taken a significant step by approving the formation of a new financial intermediary fund aimed at supporting Ukraine, according to sources close to the decision.

Contributions to this fund are expected from major global players like the United States, Canada, and Japan, highlighting international commitment to Ukraine.

However, the decision was not without contention, as Russia was the sole objector in the voting process, according to sources with knowledge of the vote.

(With inputs from agencies.)