The World Bank (WB) announced Wednesday that it would grant 200 million dollars to Ukraine to enable the country at war to restore its electricity network, particularly targeted by Russian strikes during the winter.
This new influx of money could be accompanied by another donation, of 300 million dollars, from “partners and other contributors, as the project is expanded”, added the bank in its press release.
The sum should enable Ukraine to carry out emergency work to restore the most critical infrastructures and install heating equipment when necessary.
“Ukrainian energy infrastructure suffered $11 billion in damage in 2022 and is one of the areas where Ukraine needs the most urgent repairs,” said World Bank Operations Director General Anna Bjerde, quoted in the press release.
The Russian campaign of destruction aimed specifically at the electricity grid during the fall and winter brought down more than 50% of the country’s energy infrastructure, the institution pointed out, particularly in the east of the country, where fighting are the most violent.
This new envelope brings to nearly 23 billion dollars the total amount of financing provided by the bank to Ukraine since the beginning of the conflict, whether in the form of loans or grants. So far 20 billion dollars have been disbursed to the country at war.
A meeting of Ukraine’s main supporters is to be held on Wednesday at the headquarters of the International Monetary Fund (IMF), on the occasion of the Fund’s spring meetings, during which the President of Ukraine, Volodymyr Zelensky, as well as the Prime Minister, Denys Chmyhal, must speak out.
The IMF for its part reached an agreement with the Ukrainian government on March 21, an aid plan of 15.6 billion dollars.
But a study carried out on March 22 by the World Bank, the UN, the European Union and the Ukrainian government had estimated the needs in terms of recovery and reconstruction at 411 billion dollars, a sum expected to grow as the conflict continues.