Ukraine will receive financial support of 40 million US dollars from the World Bank for the restoration of its energy infrastructure. This became known after a meeting between First Deputy Prime Minister – Minister of Energy Denys Shmyhal and World Bank Managing Director for Operations Anna Bjerde.
This is reported by Finway
Support for Ukraine’s Energy Sector
During the negotiations, the parties discussed further steps in cooperation regarding the stabilization and restoration of Ukraine’s energy sector. Special attention was paid to ensuring energy security and restoring key infrastructure that has been damaged due to Russian aggression.
Procurement of Critically Important Equipment
According to the World Bank’s plans, up to 40 million US dollars will be allocated for the national energy company “Ukrenergo.” These funds will be directed towards the procurement of critically important equipment necessary for the operational restoration of the country’s energy system.
“The World Bank plans to allocate up to 40 million US dollars for NEC ‘Ukrenergo’ for the procurement of critically important equipment needed for the restoration of the energy system.”
The Ukrainian authorities express their gratitude to international partners for their timely support, which will help ensure the resilience of the energy sector and meet the needs of the population and businesses amid the ongoing armed aggression from Russia.