As part of a new World Bank project, more than 100,000 families in Ukraine will receive assistance for the urgent repair of housing damaged as a result of the russian invasion.
This is stated in the bank's message, Ukrainian News Agency reports.
The Housing Repair for People's Empowerment (HOPE) project will allow homeowners to make minor repairs, such as replacing broken windows or repairing a damaged roof.
Funds for repairs will also be provided to owners of apartments in apartment buildings that have suffered moderate damage and do not require major repairs.
As of February 2023, the total cost of damage to the housing sector of Ukraine was estimated at more than USD 50 billion.
This project is designed to help repair the approximately two-thirds of damaged residential buildings in the country that are considered repairable.
This initial funding, totaling USD 232 million, will reimburse repair costs to people whose homes were partially damaged, including about 98,000 single-family homes and 8,000 households in 160 apartment buildings in five regions.
Beneficiaries will receive compensation for repairs.
Funding for the HOPE project consists of a USD 70 million loan from the International Bank for Reconstruction and Development, backed by a guarantee from the Government of Japan, and a USD 162.5 million grant from the multi-donor Trust Fund for Support, Reconstruction, Reconstruction and Reform of Ukraine.
Additional financing of up to USD 800 million from the World Bank and partners in the form of loan guarantees, grants and other contributions is expected later.
An estimated, 1.4 million housing units (7% of the total housing stock) with a population of 3.5 million were affected by the invasion.
Almost 87% of the damaged housing is apartment buildings; four out of five damaged houses are in urban areas.
As Ukrainian News Agency earlier reported, the HOPE project, which will be implemented by the Ministry of Reconstruction, is the fourth framework project of the World Bank approved for Ukraine this year.
It mobilizes partners' resources thanks to a flexible structure that allows for quick allocation of funds and can be scaled as needed when additional funding becomes available.
Other similar projects include emergency financing in the fields of healthcare, transport, energy and provide for appropriate fiduciary, environmental and social guarantees.
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