World Bank provides Ukraine with additional $500 million
A Ukrainian helicopter flies in Donetsk region, on September 22, 2022.
Anatolii Stepanov | Afp | Getty Images
The World Bank has distributed another $500 million to Ukraine to help finance the country’s critical spending needs.
The financing, provided by its lending arm, the International Bank for Reconstruction and Development, had been supported by $500 million in loan guarantees from the United Kingdom that were announced on Sept. 30, the bank said.
In total, the bank said it has authorized $13 billion in emergency financing for Ukraine, of which $11.4 billion has been distributed.
A report published in September by the World Bank, the Ukrainian government and the European Commission estimated reconstruction and recovery costs totaled $349 billion as of June 1. However, the number is expected to keep increasing as the war drags on.
— Natalie Tham
Four ships carrying more than 150,000 metric tons of agricultural products to leave Ukraine
ISTANBUL, TURKIYE – AUGUST 09: An aerial view of “Glory” named empty grain ship as Representatives of Russia, Ukraine, Turkiye and the United Nations (UN) of the Joint Coordination Center (JCC) conduct inspection on vessel in Istanbul, Turkiye on August 09, 2022. The UN, Russia, and Ukraine signed a deal on July 22 to reopen three Ukrainian ports — Odessa, Chernomorsk, and Yuzhny — for grain that has been stuck for months because of the ongoing Russia-Ukraine war, which is now in its sixth month. (Photo by Ali Atmaca/Anadolu Agency via Getty Images)
Anadolu Agency | Anadolu Agency | Getty Images
The organization overseeing the export of grain from Ukraine said it has approved four vessels to leave the besieged country.
The Black Sea Grain Initiative, a deal announced in July among Ukraine, Russia, the United Nations and Turkey, said the vessels are carrying 159,662 metric tons of grain and other crops.
Two ships will depart from Ukraine’s Yuzhny-Pivdennyi for China and Italy carrying corn and sunflower meal. One vessel will leave Odesa for Vietnam and is carrying nearly 57,000 metric tons of wheat. The fourth ship will depart from Chornomorsk to Algeria carrying 14,270 metric tons of wheat.