Ukraine to receive $230 million for emergency housing repairs under World Bank project
Ukraine’s Ministry of Finance has signed an agreement with the World Bank within the Housing Repair for People's Empowerment (HOPE) project, which provides for initial financing of $232 million.
Source: press service for Ukraine’s Ministry of Finance
Quote: "The agreement envisages the World Bank's initial financing totalling USD 232 million. The funds will be used to address urgent and critical needs for the repair of partially damaged individual and residential buildings in the controlled by Ukraine areas," Ukraine’s Finance Ministry said.
Details: Ukraine’s Ministry of Finance added that the total amount of funding under the project amounts to $800 million.
Minister Serhii Marchenko was the signatory from Ukraine’s Ministry of Finance, and Arup Banerji, World Bank Regional Country Director for Eastern Europe, represented the World Bank.
The funding consists of:
- a grant of $162.2 million from the World Bank's Ukraine Relief, Recovery, Reconstruction and Reform Trust Fund (URTF);
- loans of $70 million from the IBRD guaranteed by the Japanese Government.
"The goal of the HOPE project is to create safe conditions for the return of Ukrainians to the territories affected by the war in the liberated regions.
The project will also support policy reforms at the national level to improve the results of reconstruction and alignment with EU integration goals," the message said.
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