The World Bank announced on February 10, 2023, the allocation of 50 million dollars for the repair and restoration of Ukraine’s transport network and for the provision of immediate humanitarian aid and recovery.
Source: The World Bank
“The World Bank announced today a new $50 million project to repair and restore Ukraine’s transport network to support immediate humanitarian relief and recovery, and increase capacity of import and export corridors. The grant financing for this project is provided by the Ukraine Relief, Recovery, Reconstruction and Reform Trust Fund (URTF), with additional funding of up to $535 million envisaged to follow shortly,” noted the World Bank.
The Repairing Essential Logistics Infrastructure and Network Connectivity (RELINC) Project will help repair major bridges and railways to restore connectivity to the public and improve transport links to mitigate the effects of Black Sea shipping disruption.
“Specifically, the project will support the purchase of modular bridges, equipment, and materials to urgently repair damaged road-to-bridge connections and vital rail lines. It will also help to finance the purchase of flatbed wagons and additional rolling stock to expand the railway’s capacity to move cargo in containers,” added the World Bank.
According to the World Bank, the direct damage to Ukraine’s transport system is severe, totalling more than $29.9 Billion. Economic losses due to disrupted transport total an additional $26.1 billion as of June 1, 2022.
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