The Board of Directors of the World Bank has approved a decision to provide new financing under the program “Creating Resilient Infrastructure in a Vulnerable Environment in Ukraine (DRIVE)” totaling $432 million. This support package aims to assist the Ukrainian government in enhancing the resilience of the national road network and improving efficiency in the transportation sector.
This is reported by Finway
The DRIVE program complements the existing project “Restoration of Core Logistics Infrastructure and Connectivity (RELINC)”, under which the supply of modular road bridges and the production of 200 flatcars were implemented.
According to experts, since the beginning of the war in February 2022, Ukraine’s transportation infrastructure has suffered significant damage, negatively impacting key import and export routes. Approximately 30% of state roads and bridges have sustained substantial damage.
The financing for the DRIVE program consists of several components: $212 million in the form of a loan from the International Bank for Reconstruction and Development under the Targeted Fund for Providing Essential Credit Support to Ukraine (ADVANCE Ukraine), as well as a $210 million loan from the Special Program for the Recovery of Ukraine and Moldova (SPUR), and a grant of $10 million from the Targeted Fund for the Recovery of Ukraine (URTF).