World Bank provides Ukraine with $200M to restore the energy sector

The Prime Minister of Ukraine Denys Shmyhal signed an agreement with World Bank Vice President Anna Bjerde in Washington on April 12, 2023. According to the agreement, Ukraine will receive an additional $200 million for the recovery of the energy sector.

Source: The Prime Minister of Ukraine Denys Shmyhal

“Funds raised from the World Bank will be directed to the reconstruction of the electricity grid and heat supply systems in Kyiv, Kharkiv, Mykolaiv, Sumy and cities of the Chernihiv region,” emphasized the Prime Minister of Ukraine.

At the meeting with representatives of the World Bank, the head of government also discussed joint work within the framework of the interdepartmental donor coordination platform (financial Ramstein).

“Together with the World Bank, we are also preparing for the implementation a war risk insurance project for foreign investments. This is a key tool to attract these investments now, without waiting for the end of the war,” added Denys Shmyhal.

The Prime Minister of Ukraine thanked partners from the World Bank for supporting Ukraine and the recovery program, which will be the largest reconstruction project in Europe since the Second World War.

See also: Ukraine and the World Bank discussed possibilities of attracting additional funds for reconstruction

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