The World Bank's executive board on Thursday approved the creation of a financial intermediary fund (FIF) to support Ukraine, with contributions expected from the United States, Canada and Japan, three sources familiar with the decision said.
The only objection to the vote came from Russia, two of the sources familiar with the vote said.
The fund, to be administered by the World Bank, will help fulfill a pledge by Group of Seven rich democracies to provide Ukraine with up to $50 billion in additional funding by the end of the year as it continues to battle Russia's invasion that began over two years ago, the sources said.
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