Austria Donates €20 Mln to “Ukraine Recovery Trust Fund”

by Olha Povaliaieva
Saturday, December 3, 2022
Austria Donates €20 Mln to “Ukraine Recovery Trust Fund”

On December 3, the state announced the allocation of funds to the World Bank particular fund to help Ukraine

Today, a dialogue took place between Austrian finance minister Magnus Brunner and World Bank vice president Anna Bjerde. As a result of the negotiations, the WB announced the transfer of €20 million to the Ukraine Recovery Trust Fund of the World Bank.

"In this way we demonstrate our solidarity with the population and make a sustainable contribution to stability in Europe," Magnus Brunner.

In October 2022, Word bank created the target Ukraine Recovery Trust Fund, which accumulates funds to help and restore Ukraine. International investors and donors provide the funds. Since February 24, WB approved 3 loans with a total value of €1.85 billion and $91.16 million.

According to Magnus Brunner, the restoration of Ukraine "cannot wait until the end of the war," therefore, supporting Ukraine is one of the main missions of Austria today.

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