Japan contributes $471M to World Bank to rebuild Ukraine
That’s according to the World Bank press service, Ukrinform reports.
This contribution is part of a $5.5 billion pledge Japan made in February to help restore destroyed infrastructure and help the people of Ukraine rebuild their lives.
“Japan continues to stand by Ukraine and the Ukrainian people. We have been working closely with the World Bank in providing support for Ukraine. (…) We expect our contributions to be efficiently and effectively used to meet Ukraine’s most urgent needs such as repairing critical infrastructure. We look forward to further deepening our cooperation with the World Bank Group,” said Kentaro Ogata, Deputy Vice Minister for International Affairs of Japan’s Ministry of Finance.
The grant contribution more than doubles the URTF’s funds, bringing the total to over $850 million in resources to support pressing repairs needed for energy infrastructure, roads, bridges, housing, schools, and clinics.
The URTF is currently supporting the Restoration Project of Winterization and Energy Resources, the Repairing Essential Logistics Infrastructure and Network Connectivity (RELINC) project and the Health Enhancement and Lifesaving in Ukraine (HEAL) project.
The URTF is a multi-donor trust fund facility, established in December 2022, supporting the World Bank’s emergency operations in Ukraine across key sectors including transport, health, and energy. These projects reflect the country’s relief needs outlined in the updated Rapid Damage and Needs Assessment (RDNA) released last month and are designed to be adaptable to on-the-ground events while making impacts and disbursing rapidly.
Strategic guidance on URTF activities is provided by the Partnership Council. It is co-chaired by the World Bank Group and the Government of Ukraine, with the development partners as members. Contributors to the URTF include Austria, Canada, Iceland, Japan, Lithuania, the Netherlands, Norway, Sweden, and Switzerland. The Program Management Team is responsible for the day-to-day management of URTF’s trustee funds.
