World Bank Allocates $200 Mln to Ukraine 

by Meifan Honcharuk
Friday, April 14, 2023
World Bank Allocates $200 Mln to Ukraine 

World Bank to provide additional funding for Ukrainian energy recovery

On 12 April, prime minister of Ukraine Denys Shmyhal and World Bank vice-president Anna Bjerde signed an agreement. As part of the agreement to provide funds from the international financial organisation, Ukrainians will receive $200 million. The funds will be used to reconstruct the destroyed by Russia: power grids, stations and heating systems throughout Ukraine. The parties will not wait for the war's end and additional transfers will begin in 2023.

"Energy is one of our priorities. Funds raised from the World Bank will be directed to restoring the electricity and heat supply systems in Kyiv, Kharkiv, Mykolaiv, Sumy, and the cities of the Chernihiv region," said Shmyhal.

Recall that from October to March, the Russian Federation carried out 15 massive attacks by drones and missiles on the power supply networks of Ukraine. The country, on the territory of which the war unfolded, survived the coldest and "dark" winter. Ukrainian people remained without light, heat, and communication. Therefore, signing such agreements will help Ukraine to cope with the consequences of Russian attacks and prepare for the next heating season.

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