Ukraine to receive $432 million from World Bank towards transport infrastructure restoration
Kyiv will received $432 million in funding to assist with the restoration of transport infrastructure damaged during the war, Prime Minister Denys Shmyhal announced on April 2.
The funding agreement, signed between Ukraine's Development Ministry and the World Bank will be supplied through the newly-minder Developing Resilient Infrastructure in Vulnerable Environments in Ukraine (DRIVE) project, according to a news release from the Development Ministry.
The DRIVE project will provide funding for the "extensive repairs of roads and bridges in 19 regions, reform of national roads, installation of modular bridges and technical assistance," Shmyhal said on X.
"We are grateful to the World Bank and international partners for supporting important initiatives," Shymhal added.
A total of $270 million will be directed towards road and bridge repairs, with an additional $90 million being directed towards road and transport sector rebuilding.
Ukraine's recovery and reconstruction costs stemming from Russia's full-scale invasion are estimated to be $486 billion, according to the World Bank's assessment published on Feb. 15.
The DRIVE project, funded in part by the World Bank's International Bank for Reconstruction and Development as well as by the government of Japan, expects for work to be completed between 2025 and 2028.
