Ukraine wants to involve World Bank in filling Fund for Elimination of Consequences of Armed Aggression
Ukraine is actively working with the World Bank to attract international partners to fill the Fund for the Elimination of the Consequences of Armed Aggression. Currently, there are preliminary agreements on the possible allocation of $400 million for infrastructure restoration.
Oleksandra Azarkhina, Deputy Minister of Community Development, Territories and Infrastructure, said this in an interview with Ukrinform.
“We are actively working with the World Bank, in particular, to get our partners to help fill the Fund with funds that we can then use their financial mechanism to provide people with compensation. Deputy Prime Minister Oleksandr Kubrakov has already agreed to raise USD 400 million. We are also discussing possible options with other international partners and donors. In the future, we plan to provide assistance under the eRestoration program through Russian reparations,” said the ministry representative.
She recalled that they are currently talking about using UAH 35 billion from the Liquidation Fund. It is preliminarily planned to allocate UAH 10 billion for the construction, repair and other engineering and technical measures to protect critical infrastructure, for a pilot project to restore settlements affected by armed aggression (UAH 5 billion)
For the implementation of projects by the Recovery Agency (UAH 3.6 billion) and critical infrastructure recovery projects at the community and regional levels (UAH 6.6 billion). Almost UAH 1 billion was allocated for the construction of engineering structures to provide water to the areas affected by the Kakhovka dam explosion. And UAH 4.4 billion is the resource of eRestoration.
As reported, President of Ukraine Volodymyr Zelensky had a telephone conversation with World Bank President Ajay Banga, during which he invited him to reopen the WB office in Ukraine.
The procedure for using the funds of the Fund for the Elimination of the Consequences of Armed Aggression was approved by a resolution of the Cabinet of Ministers of Ukraine of February 10, 2023.