Ukraine will receive USD 109 million in grant financing under World Bank projects to restore and support the energy sector

On June 11, the Minister of Finance of Ukraine Sergii Marchenko and current Regional Director for Ukraine, Moldova and Belarus Arup Banerji signed the Letters of Amendment to the grant agreements under the World Bank's projects “The Housing Repair for People's Empowerment Project” (HOPE) and "The Restoration Project of Winterization and Energy Resources" (Re-PoWER Ukraine) .

The signing was in the framework of the Ukraine Recovery Conference, which is taking place on June 11-12 in Berlin, Germany. 

Additional grant funding in the amount of USD 62 million under the HOPE project will be used for small and medium-sized repairs of residential buildings partially damaged as a result of russia's aggression. The HOPE project is aimed at addressing the urgent and critical needs for the repair of partially damaged individual and multi-apartment residential buildings in territorial communities under the control of the Government of Ukraine. 

An additional grant of USD 47 million under the Re-PoWER project, which aims to restore basic services in the energy sector of Ukraine, will be used to provide Kharkiv residents with district heating services, namely the procurement and installation of heating equipment.

"Funds from international donors continue to be a key source of financing for social and humanitarian expenditures, as well as for the restoration and reconstruction of critical infrastructure. We are grateful to the World Bank team and partners for implementing projects aimed at providing our citizens with the necessary services in a timely manner, as well as eliminating the consequences of russian armed terror," said Minister of Finance Sergii Marchenko. 

These grants will be provided through the  Ukraine Relief, Recovery, Reconstruction and Reform Trust Fund (URTF) which remains one of the main mechanisms for consolidating funds from development partners established by the World Bank to support Ukraine. The World Bank, through the URTF, has mobilized donor financial resources totaling about USD 1.8 billion to support Ukraine, of which Ukraine has already received USD 1.1 billion in grants to support critical healthcare, housing and transport infrastructure, support for agricultural producers, and to enhance the administrative capacity of the Government.