Multi-donor trust fund consolidates $1.86B in grants for Ukraine
Representatives of 16 donor countries of the Ukraine Relief, Recovery, Reconstruction and Reform Trust Fund (URTF) have discussed the status of implementation and preparation of new projects.
The meeting took place in Kyiv, Ukrinform reports, referring to the Finance Ministry’s press service.
The meeting was attended by the URTF donor countries, namely representatives of the United States of America, Japan, Canada, Norway, the Netherlands, Lithuania, Latvia, Austria, Belgium, the Republic of Korea, Iceland, Indonesia, Ireland, Sweden, Switzerland, and New Zealand.
“Since the beginning of the full-scale invasion, the World Bank has been one of the leaders in coordinating and consolidating international financial assistance to support Ukraine. Established in December 2022, the URTF has become a platform for mobilising grant assistance from international partners to overcome the consequences of the war,” the report says.
It is noted that to date, the Fund has consolidated USD 1.86 billion in grants, of which Ukraine has already received almost USD 1.2 billion.
The participants discussed the state of implementation and preparation of new projects aimed at implementing reforms in the educational, financial, transport, healthcare sectors, as well as at restoring Ukraine's economy.
The Finance Ministry noted that as part of the implementation of joint projects with the Bank financed by the URTF, more than 64 thousand households received compensation for minor and medium repairs to residential buildings and apartments (HOPE housing recovery project).
In addition, as part of the the project, more than 20 protective structures for energy infrastructure facilities are under construction (Re-PoWER project to support the energy sector);
As reported, Ukraine and the World Bank signed two loan and one grant agreement totaling $415 million to raise funding for the project “Lifting Education Access and Resilience in Times of Need” (LEARN).