Probability of Receiving $650 Million From the World Bank

by Olha Povaliaieva
Wednesday, February 16, 2022
Probability of Receiving $650 Million From the World Bank

The World Bank can provide financing to the national energy company of Ukraine "Ukrenergo" and gas organization "Operator GTS of Ukraine"

The tranche plans to allocate to the creation of modern ways of obtaining and realization of services of the" rel="dofollow">energy company. There are plans to change Ukrenergo’s course in a "green" direction. Therefore, $350 million will be used to improve operational efficiency and upgrade transmission networks for European integration and decarbonization.

On January 1, 2020, the operator of the gas transportation system of Ukraine received the status of the licensed operator of the country. Now the company provides the work of integration into the gas transportation system of Europe. The World Bank is currently considering financing the Operator GTS. The amount of the tranche should be $300 million. The company will use this money to increase efficiency, technical, and institutional capacity.

The exact decision and the date of the tranche are not known. If the necessary documents are signed, project financing can start in the next fiscal year. The World Bank’s fiscal year 2023 begins on July 1, 2022.

Such financial support from global organizations allows a shift in production in a "green" direction. They also support the country’s energy and gas independence.

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