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Reuters
Reuters
Business
Divya Chowdhury and Lisa Pauline Mattackal

EBRD prepares to raise more funds to rebuild Ukraine

EBRD Odile RenaudBasso Ukraine Russia
FILE PHOTO: The headquarter of the European Bank for Reconstruction and Development (EBRD) is seen in London, Britain, November 22, Britain 2016. REUTERS/Stefan Wermuth/

The European Bank for Reconstruction and Development (EBRD) said it is preparing to raise additional funds for the reconstruction of Ukraine after Russia's invasion, after pledging to spend 1 billion euros in the country in 2022.

The European Union has estimated that the overall cost of the damage to Ukraine as a result of what Moscow calls a "special military operation" could stand at between 500 billion euros ($530 billion) and 600 billion euros.

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