Ukraine to receive $84 million from the World Bank under the HOPE Project to restore housing damaged by russian aggression

Ukraine will receive an additional USD 84 million in funding from the World Bank under the “Housing Repair for People’s Empowerment project” (HOPE). The funds will be directed to restoring housing damaged by russian aggression, under the eRestoration program.

It is expected that this funding will help over 25,000 households repair their homes.

The decision was approved by the World Bank’s Board of Executive Directors on May 9.

On May 15, the Additional Financing Agreement was signed between Ukraine and the World Bank: on behalf of Ukraine – by Deputy Prime Minister for Restoration of Ukraine - Minister for Development of Communities and Territories of Ukraine Oleksii Kuleba, on behalf of the World Bank – by Regional Country Director for Eastern Europe Bob Saum.

The HOPE project is aimed at addressing urgent and critical repair needs for partially damaged individual and multi-apartment residential buildings in territorial communities under the control of the Government of Ukraine, which have suffered due to the aggression of the russian federation on Ukrainian territory.

Since the beginning of the HOPE project, over 87,000 households have already received compensation for damaged property.