World Bank approves up to $50 billion in new funding for Ukraine, Reuters reports.

The World Bank's executive committee approved on Oct.

10 the creation of a new fund for Ukraine that could provide up to £50 billion by the end of the year, Reuters reported, citing sources. As the ongoing full-scale Russian invasion continues to put pressure on Ukraine's economy and business, the World Bank plays a crucial role in supporting the country's economic sector. Concerns about the stability of future international funding for Ukraine have deepened in the leadup to the U.S. presidential election, with many fearing that a victory for Republican nominee Donald Trump could result in a reduction of American support.

The new World Bank-administered financial intermediary fund (FIF) could help allay those concerns. "This is a game-changing amount of money," said Josh Lipsky, senior director of the Atlantic Council's GeoEconomics Center, referring to the combined effect of the new World Bank fund and an announcement the previous day that the EU had approved an additional 35 billion euro loan. "It's real resources on the ground that can make a difference," Lipsky told Reuters.

The funding will come from the U.S., Japan, and Canada, the sources said, adding that it will be backed by interest generated from frozen Russian assets.

The exact amounts that each country would contribute were not specified.

Rome to host next Ukraine Recovery Conference on July 10-11, 2025

"Looking at a future of peace and prosperity also means looking at reconstruction, and I am happy to announce that the 'Ukraine Recovery Conference' will be held in Rome on 10 and 11 July 2025," Italian Prime Minister Giorgia Meloni said.