Ukraine receives $49.4M from Japan as part of World Bank’s HOPE project

The relevant statement was made by the Ukrainian Finance Ministry, an Ukrinform correspondent reports.

“The funds raised will be used to overcome the consequences caused by Russian armed aggression and to rebuild Ukraine’s housing infrastructure. I am grateful to the teams of the Government of Japan and the World Bank for their support,” Ukrainian Finance Minister Sergii Marchenko emphasized.

In particular, the grant funds will be used to cover the state budget expenditures on compensation payments to home owners for repairs in apartment blocks and detached houses that have been moderately damaged and do not require major repairs. The project will support policy reforms at the national level to improve reconstruction outcomes.

In the near future, Ukraine also expects to receive funding from Japan and Norway under the World Bank’s Public Expenditures for Administrative Capacity Endurance (PEACE) project. The funding partly compensates for the expenditures of Ukraine’s state budgets on payments to teachers, emergency services, and pension payments.

A reminder that Ukraine’s state budget received about $950 million from Japan as part of the World Bank’s projects related to recovery and social protection.