The World Bank said on Monday it had disbursed an additional US$500 million to help Ukraine meet urgent spending needs created by Russia's Feb. 24 invasion and the ongoing war.
The financing by the International Bank for Reconstruction and Development, the bank's main lending arm, was supported by $500 million in loan guarantees from Britain that were announced on Sept. 30, the bank said.
It comes on the eve of a recovery conference taking place in Berlin on Tuesday, where national leaders, development experts and CEOs will discuss how to rebuild Ukraine after Russia's invasion, now entering its ninth month.
鈥淭he Russian invasion continues to cause massive destruction of Ukraine鈥檚 infrastructure 鈥 including water, sanitation, and electricity networks 鈥 just as winter is approaching, further endangering Ukrainian people,鈥 World Bank Group President David Malpass said in a statement.
鈥淭he new portion of financing disbursed today will be used to maintain essential government services. We stand firmly to support the Ukrainian people as they face this unparalleled crisis.鈥
The World Bank has mobilized a total of $13 billion in emergency financing for Ukraine, of which $11.4 billion has been fully disbursed.
Russia's invasion caused over $97 billion in direct damages to Ukraine through June 1, but it could cost nearly $350 billion to rebuild the country, the World Bank, Ukrainian government and the European Commission said in a report released in September.
Moscow has called its actions a special military operation to rid its neighbour of extremists.
(Reporting by Andrea Shalal; editing by Muralikumar Anantharaman)
A $2.14-billion federal loan for an Ottawa-based satellite operator has Canadian politicians arguing about whether American billionaire Elon Musk poses a national security risk.
Specialist divers surveying the wreckage of the US$40 million superyacht that sank off Sicily in August, killing seven people including British tech tycoon Mike Lynch, have asked for heightened security to guard the vessel, over concerns that sensitive data locked in its safes may interest foreign governments, multiple sources told CNN.
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Unusual flippered feet are making their way into the Saint Lawrence River this weekend. Led by underwater explorer and filmmaker Nathalie Lasselin, volunteer divers are combing the riverbed near Beauharnois in Mont茅r茅gie to remove hundreds of tires that have been polluting the aquatic environment for decades.
The Lebanese militant group Hezbollah announced that it fired a barrage of missiles at a military base deep inside Israel early Sunday following an Israeli airstrike more than a day earlier that killed at least 37 people, including one of the militant group鈥檚 senior leaders as well as women and children.
A sea lion swam free after a rescue team disentangled it near Vancouver Island earlier this week.
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The British Columbia election campaign is set to officially start today, with Lt.-Gov. Janet Austin issuing the writ for the Oct. 19 vote.
A sea lion swam free after a rescue team disentangled it near Vancouver Island earlier this week.
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A body has been found in the vicinity where a woman went missing on the Ottawa River near Pembroke, Ont. while kayaking Tuesday night, according to the Ontario Provincial Police (OPP).
Donald Trump returned to North Carolina on Saturday, stumping in the southern battleground state with direct appeals to women, claiming he would be a better champion for them than U.S. Vice President Kamala Harris, who is vying to become the first female president.
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The more Chelsea Walsh talked to the eccentric fellow American who seemed to pop up in every square and cobblestone street of Ukraine's capital, the more she got creeped out.
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The Lebanese militant group Hezbollah announced that it fired a barrage of missiles at a military base deep inside Israel early Sunday following an Israeli airstrike more than a day earlier that killed at least 37 people, including one of the militant group鈥檚 senior leaders as well as women and children.
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Foreign Affairs Minister Melanie Joly says close to 45,000 Canadians are in Lebanon, months after warning there is no guarantee Ottawa can evacuate them if the situation deteriorates further.
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Looking after an adult with severe autism can be a full-time job. Ask any parent who has a child severely affected by autism spectrum disorder 鈥 it鈥檚 a job that can get more difficult as the child becomes an adult.
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The owner of the shuttered Three Mile Island nuclear power plant said Friday that it plans to restart the reactor under a 20-year agreement that calls for tech giant Microsoft to buy the power to supply its data centers with carbon-free energy.
Lebanese authorities on Thursday banned walkie-talkies and pagers from being taken on flights from Beirut airport, the National News Agency reported, after thousands of such devices exploded during a deadly attack on Hezbollah this week.
Kathryn Crosby, who appeared in such movies as 'The 7th Voyage of Sinbad', 'Anatomy of a Murder,' and 'Operation Mad Ball' before marrying famed singer and Oscar-winning actor Bing Crosby, has died. She was 90.fff
'Saturday Night Live' will have a slew of famous faces to help kick off its historic 50th season when the show returns later this month.
The death of the Tragically Hip鈥檚 lead singer Gord Downie united fans across Canada in their grief, but in many ways pulled his bandmates apart.
It is not a great time to be a coffee drinker. In general, coffee bean prices are the highest they've been in more than a decade.
The maker of the popular party game Cards Against Humanity is accusing Elon Musk's SpaceX of trespassing on and damaging a plot of vacant land the company owns in Texas.
The Canadian Food Inspection Agency says a recall of Nutrabolics brand Feed Me Vegan Real Food Protein & Oats bars due to undeclared milk has been expanded.
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Jonathan Aranda homered for the second consecutive game, helping Taj Bradley and the Tampa Bay Rays beat the Toronto Blue Jays 3-2 on Saturday.
Kiefer Sherwood spent several nights last spring chasing Quinn Hughes around the ice and generally pestering the Vancouver Canucks.
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General Motors (GM) has issued a recall for 38,000 vehicles for safety risks related to a software glitch, Transport Canada reported in a notice on Wednesday.
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The St. Clair College golf teams were successful at the Niagara Knights Invitational tournament on Friday.
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Lethbridge County has rescinded its fire restriction as a result of the recent cool, wet weathr.
The Lethbridge Hurricanes kicked off the 2024-25 season on a winning note Friday night, defeating the Edmonton Oil Kings 3-1 in a game played at VisitLethbridge.com Arena.
A northern Ontario man is facing a $12,000 fine after illegally shooting a moose near the Batchawan River.
Following an outbreak of COVID-19 on its continuing care floor and just ahead of the flu season, St. Joseph鈥檚 General Hospital in Elliot Lake has opted to re-introduce a universal masking policy until further notice.
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Jim Lester鈥檚 farm hopped on the cow-cuddling trend in early August, and his time slots have been pretty well sold out ever since.
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