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World Bank to provide $200 million in aid to restore Ukraine's energy infrastructure

by The Kyiv Independent news desk April 12, 2023 11:21 PM 1 min read

This audio is created with AI assistance

The World Bank will provide Ukraine with an additional $200 million in aid to restore its energy infrastructure, Prime Minister Denys Shmyhal reported on April 12.

According to Shmyhal, who met with officials from the World Bank earlier in the day, the funds will be used for the reconstruction of the electricity grid and heat supply systems in Kyiv, Kharkiv, Mykolaiv, Sumy, and Chernihiv oblasts.

Ukraine is collaborating with the World Bank to implement a war risk insurance project that aims to attract foreign investments before the war ends, Shmyhal added.

Russia has launched over 1,200 missiles and drones against Ukraine since October in an effort to destroy Ukraine's energy infrastructure.

In addition to causing damage to infrastructure, the attacks resulted in numerous casualties and forced blackouts to deal with the resulting energy deficits across the country.

During an evening video address in early March, President Volodymyr Zelensky warned that although winter was over, the threat to Ukraine's energy infrastructure still remains.

Author: The Kyiv Independent news desk

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World Bank to provide $200 million in aid to restore Ukraine's energy infrastructure

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