On April 12, during his working visit to Washington, D.C., Prime Minister Denys Shmyhal met with the World Bank leadership. The meeting was also attended by Governor of the National Bank of Ukraine Andriy Pyshnyy and Minister of Finance Sergii Marchenko.
During the meeting, Denys Shmyhal and World Bank Managing Director for Operations Anna Bjerde signed an agreement on a grant from the Multi-Donor Trust Fund for the restoration of Ukraine's energy sector. The grant will amount to USD 200 million.
According to Denys Shmyhal, Ukraine's recovery starts this year, and the energy sector is one of the priorities.
"The funds raised from the World Bank will be used to rebuild the power grid and heat supply systems in Kyiv, Kharkiv, Mykolaiv, Sumy and the cities of Chernihiv region. This winter, we have defeated russia in the battle for light and are already preparing for the next heating season," the Prime Minister of Ukraine stressed.
As part of the reconstruction programme, Ukraine and the World Bank are also intensifying three projects: the REPower project in the energy sector, the RELINC project in the transport infrastructure sector, and the HEAL Ukraine project in the healthcare sector.
Denys Shmyhal stressed that Ukraine's recovery would be the largest reconstruction project in Europe since the Second World War, and Ukraine was now mobilising support from partners to implement it.
"With the World Bank representatives, we discussed joint work under the Financial Rammstein Framework, as well as the preparation of a war risk insurance project for foreign investment. This is a key tool to attract these investments right now, without waiting for the war to end," said the Head of the Ukrainian Government.
Denys Shmyhal thanked the World Bank for supporting Ukraine and the recovery programme implemented by the Government.