Hungary Backs World Bank Funds for Ukraine, Neighbors

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Minister of Finance Mihály Varga voiced Hungary's support for making more World Bank resources available to Ukraine and neighboring countries affected by the war at a meeting with Elena Bourganskaia, a vice president of the International Finance Corporation (IFC), a World Bank group member, the Ministry of Finance said in a statement issued on its website.

Varga noted that Hungary's support for Ukraine adds up to more than HUF 28 billion.

He added that close to one million refugees from the war had arrived in Hungary.

The minister said Hungary is prepared to participate in Ukraine's reconstruction with the help of Hungarian companies active in the region.

He added that the development of Transcarpathia, an area in the west of Ukraine home to many ethnic Hungarians, is "indispensable" in rebuilding the country.

Varga participated at the annual International Monetary Fund (IMF) and World Bank meetings that wound up in Washington, D.C., on Sunday.

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