World Bank allocates $200mln to repair Ukraine’s energy infrastructure

shahennews

 The World Bank (WB) announced $200 million in grant financing for a project that will repair Ukraine’s energy infrastructure.

During the fall and winter months, more than 50 percent of Ukraine’s power infrastructure was damaged, resulting in power outages across the country and contributing to shortages of food, heating, and water, according to a statement by the WB late Wednesday.

“Energy infrastructure has suffered $11 billion in damages over the last year and is one of the most critical areas where Ukraine needs urgent support,” said WB Managing Director of Operations Anna Bjerde.

To date, the World Bank has mobilized more than $23 billion in emergency financing for Ukraine, including commitments and pledges from donors. More than $20 billion of this financing has been disbursed through several projects, the statement added.