$2B in loans to help Ukraine’s ag, fuel import businesses

By FATIMA HUSSEIN
Associated Press

WASHINGTON (AP) — Private businesses in Ukraine are in line to receive $2 billion in financing arranged by the International Finance Corp. to help rebuild the country’s agriculture and fuel import industries and other ventures, which have faced extensive losses because of the war. The IFC is a member of the World Bank Group and provides private sector financing to developing countries. Since Russia invaded in February, at least 5 million jobs have been lost, according to Ukraine’s Ministry of Economy. The National Bank of Ukraine estimates that 11% of businesses had closed as of September and more than half were operating below capacity.