Solidarity step with Ukraine: World Bank and donors allocate additional funds for recovery

Опубліковано 23 June 2023 року, о 12:52

Another Agreement between the Government of Ukraine and the World Bank was signed at the Ukraine Recovery Conference in London. It is about attracting additional credit financing in the amount of USD 500 million under the guarantee of the United Kingdom—the government portal reports.


These funds are part of the additional financing of the “Support to Public Expenditures for Sustainable Public Administration in Ukraine” project. The total allocation for UK guarantees under this project is USD 2 billion.


The funds will pay salaries to rescuers and teachers, pensions, support for low-income families, children with disabilities, internally displaced persons, and single mothers, and medical services under the medical guarantee program.


In addition, during the Ukraine Recovery Conference, memoranda were signed with the European Bank for Reconstruction and Development to support the Ukrainian energy sector for EUR 600 million. Ukrhydroenergo, Ukrenergo, and Naftogaz receive the funds.


In particular, the European Bank for Reconstruction and Development will assist in restoring and modernizing hydroelectric power plants and improving their reliability and efficiency. After the territory of the Kakhovka Reservoir is vacated, a roadmap for the reconstruction of the hydroelectric power plant is planned.