Ukraine will receive USD 109 million in grant funding within the framework of World Bank projects to restore and support the energy sector.
This follows from a statement by the Ministry of Finance, the Ukrainian News agency reports.
On June 11, Minister of Finance of Ukraine Serhii Marchenko and World Bank Regional Country Director for Eastern Europe, Arup Banerjee, signed the Letters on changes to the grant agreements under the World Bank projects Housing Repair for People's Empowerment Project (HOPE) and Restoration Project of Winterization and Energy Resources Project (Re-PoWER).
The signing took place within the framework of the Ukraine Recovery Conference, which takes place in Berlin (Germany) on June 11-12.
Additional grant funding in the amount of USD 62 million within the framework of the HOPE project will be directed to small and medium-sized repairs of residential buildings partially damaged as a result of Russia's armed aggression.
The HOPE project is aimed at solving urgent and critical needs for the repair of partially damaged individual and multi-apartment residential buildings in territorial communities under the control of the government of Ukraine.
An additional grant in the amount of USD 47 million under the Re-PoWER project, which aims to restore basic services in the energy sector of Ukraine, will be aimed at providing residents of the city of Kharkiv with central heating services, namely the purchase and installation of heating equipment.
These grant funds will be provided through the Ukraine Relief, Recovery, Reconstruction, and Reform Trust Fund (URTF), which remains one of the main mechanisms for the consolidation of funds from development partners created by the World Bank to support Ukraine.
The World Bank, through the URTF fund, has attracted financial resources from donors in the total amount of about USD 1.8 billion to support Ukraine, of which Ukraine has already received a USD-1.1-billion grant to support critical measures in the field of health care, housing reconstruction and transport infrastructure, to support agricultural producers, as well as to increase the administrative capacity of the government.
As the Ukrainian News agency earlier reported, the European Investment Bank will provide Ukraine with EUR 560 million in 2024.
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