World Bank provides Ukraine with $200 million for energy recovery

The World Bank is providing Ukraine with an additional $200 million for energy recovery.

Prime Minister of Ukraine Denys Shmyhal signed an agreement with World Bank Vice President Anna Bjerde in Washington, the Head of the Ukrainian government reported on Telegram.

"The funds raised from the World Bank will be used to rebuild the power grid and heat supply systems in Kyiv, Kharkiv, Mykolaiv, Sumy and cities of Chernihiv region," he said.

At the meeting with the World Bank, the Prime Minister also discussed joint work within the interagency donor coordination platform (Financial Rammstein Framework).

"Together with the World Bank, we are preparing to implement a project on war risk insurance for foreign investment. This is a key tool to attract these investments right now, without waiting for the end of the war," the Prime Minister said.

He thanked the World Bank partners for supporting Ukraine and the recovery program, which will be the largest reconstruction project in Europe since World War II.

As Ukrinform reported earlier, the World Bank Group announced additional grant funding for Ukraine in the amount of $2.5 billion.

Photo: Denys Shmyhal/Telegram