PM Shmyhal: World Bank to become one of key partners in Ukraine’s recovery

The World Bank will become one of the key partners in the recovery of Ukraine. The implementation of several relevant programs has been already agreed upon.

"The World Bank will become one of our key partners in the recovery," Prime Minister Denys Shmyhal said at the Cabinet’s meeting on Tuesday, Ukrinform reports.

According to Shmyhal, Ukraine has already agreed with the World Bank on the intensification of joint thematic programs for the reconstruction of the country right now. In particular, the Re-Power project worth $500 million dollars will be implemented in the energy sector. In this context, Shmyhal noted that an agreement on the first $200 million for the restoration of Ukrainian energy and heat supply systems in cities was signed in Washington, D.C. last week. Moreover, the RELINC project worth $585 million will be implemented in the field of transport infrastructure, and the Heal Ukraine worth $368 million – in the area of health care and reconstruction of hospitals.

Shmyhal added it is planned to additionally attract $6 billion from the International Bank for Reconstruction and Development within the framework of a special program for responding to challenges and restoring Ukraine. He said that these funds will be channeled into the restoration of critical, social, and transport infrastructure facilities. "We are now waiting for the approval of the program and its launch already this year," the Head of Government concluded.

As reported, since the beginning of the full-scale Russian invasion, the World Bank has managed to mobilize international partners and helped Ukraine get almost $20 billion.