World Bank Ready to Manage G7 Loan for Ukraine Using Frozen Russian Assets

Ajay Banga, the President of the World Bank, has expressed his willingness to manage a fund for Ukraine that would disburse a G7 loan based on the earnings from frozen Russian assets for non-military purposes. He stated that the World Bank has experience in managing similar donor fund facilities for countries like Afghanistan and could replicate this work for Ukraine.

Banga clarified that he is not part of the G7 discussions on Ukraine financing, but he is ready to manage such a fund if given the opportunity. During an interview on the sidelines of a meeting in northern Italy, Banga emphasized his readiness to manage such a fund while expressing his need for safeguards and ensuring that the funds are used appropriately.