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Reuters

Business

World Bank preparing to disburse another $530 million to Ukraine-Malpass

World Bank David Malpass Ukraine Britain Denmark

FILE PHOTO: World Bank president David Malpass holds a news conference at the headquarters of the International Monetary Fund during the Annual Meetings of the two groups in Washington, U.S., October 13, 2022. REUTERS/James Lawler Duggan

World Bank President David Malpass said on Thursday that the lender is preparing to disburse another $530 million to Ukraine by the end of October, financing enabled by guarantees from Britain and Denmark that brings total World Bank disbursements to the war-torn country to about $11 billion this year.

Malpass said it was appropriate for the world community to address Ukraine's financing needs in a unified fashion despite needs elsewhere because Russia's invasion is "causing massive problems for the world."

(Reporting by David Lawder)

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