The World Bank has announced a new USD 50 million project aimed at repairing and restoring Ukraine's transport infrastructure.
This is stated in the message of the bank, Ukrainian News Agency reports.
The goal of the project is to support the provision of emergency humanitarian aid and recovery, as well as to increase the capacity of import and export corridors.
Grant funding for this project is provided within the framework of the Ukraine Relief, Recovery, Reconstruction and Reform Trust Fund (URTF), and additional funding of up to USD 535 million is expected soon.
It is said to be the second World Bank-backed, scalable emergency response operation approved over the past two months, mobilising partner resources through an innovative framework approach.
The first was approved in December and focused on restored medical infrastructure and service delivery in the health sector.
It is noted that the Repairing Essential Logistics Infrastructure and Network Connectivity (RELINC) Project will help rebuild the main bridges and railways to restore communication between settlements.
It will improve westbound transport links and reduce the negative effects of disruption to shipping in the Black Sea.
In particular, the project will support the purchase of modular bridges, equipment and materials for the urgent repair of damaged road connections with bridges and vital railway tracks.
As part of this grant, assistance will also be provided for the purchase of flatbed wagons and additional rolling stock to expand the railway’s capacity to move cargo in containers.
It will also help to finance the purchase
The World Bank estimates that more than 2,100 villages, 51 urban-type villages and 35 towns that have been de-occupied face the challenge of disrupting transport routes due to the war.
The transport network of Ukraine has suffered significant direct losses, which amount to more than USD 29.9 billion.
The economic damage from the disruption of transport is additionally USD 26.1 billion as of June 1, 2022.
As Ukrainian News Agency earlier reported, the Ukraine Relief, Recovery, Reconstruction and Reform Trust Fund (URTF) was created by the World Bank to coordinate grant financing in support of the Government of Ukraine, the provision of services and humanitarian assistance.
URTF is a platform that allows the World Bank to prioritize and direct funding to the most urgent development needs identified by the Government of Ukraine and thanks to already made contributions from Austria, Iceland, Lithuania, the Netherlands, Norway, Sweden and Switzerland.
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