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. Last Updated: 07/27/2016

Ukraine Set to Get $1.4 Billion in Aid

PARIS -- The World Bank said Friday that it and the International Monetary Fund will likely pledge $1.4 billion in aid to Ukraine, with $400 million more expected from creditor nations.

The World Bank's consultative group for Ukraine, which met in Paris, will meet again in Washington next month to confirm the contributions, said Johannes Linn, the bank's vice president for Europe and Central Asia.

Linn said the European Union, United States and Japan are expected to contribute a total of $400 million, but wished to finalize their decisions and make exact pledges at the next meeting.

The funds will be used to fill Ukraine's expected 1977 budget gap and help offset the costs of closing the Chernobyl nuclear power plant.