Ukraine to receive $84 million from World Bank to restore homes damaged in Russia's war
Ukraine will receive $84 million from the World Bank to restore housing damaged in Russia's war, the Finance Ministry announced on May 15.
On April 2, Prime Minister Denys Shmyhal announced that Ukraine will receive $432 million in funding from the World Bank to assist with the restoration of transport infrastructure damaged during the war.
The most recent funding is part of the World Bank's Housing Repair for People’s Empowerment project (HOPE).
"The HOPE project is aimed at addressing urgent and critical repair needs for partially damaged individual and multi-apartment residential buildings in territorial communities under the control of the Government of Ukraine, which have suffered due to the aggression of the Russian Federation on Ukrainian territory," the Finance Ministry said in its statement.
Twenty-five thousand homes are expected to be repaired using the additional $84 million in funding from the World Bank.
The funding was secured with the signing of a financing agreement between Ukraine and the International Development Association (IDA) on May 15.
To date, the project has provided compensation to over 87,000 households for damages caused by Russia's war against Ukraine, the Finance Ministry said.
Russian missile and drone attacks regularly strike civilian infrastructure, including houses and residential buildings.
The Kyiv Independent news desk
