• Українською
  • Ministry of Finance attracts about USD 50 million from Japan through World Bank’s HOPE project for housing reconstruction
    Ministry of Finance of Ukraine, posted 16 February 2024 09:40

    The State Budget of Ukraine has received a grant of USD 49.4 million from the Government of Japan under the World Bank’s Housing Repair for People’s Empowerment (HOPE) project.

    “The funds raised will be used to overcome the consequences caused by russia’s armed aggression and to rebuild Ukraine’s housing infrastructure. I am grateful to the teams of the Government of Japan and the World Bank for their support,” said Minister of Finance of Ukraine Sergii Marchenko.

    The grant funds are used to cover State Budget expenditures used for compensation payments to homeowners for repairs in multi-apartment and private buildings that have sustained moderate damage and do not require major repairs. The Project will support policy reforms at the national level to improve reconstruction outcomes.

    Ukraine also expects to receive funding from the Governments of Japan and Norway in the near future through the World Bank’s Public Expenditures for Administrative Capacity Endurance (PEACE) project. The funding partly compensates for the Ukrainian State Budget expenditures on payments to teachers, emergency services and old age payments.