Zelensky tells IMF rebuilding Ukraine can 'return the normal life'

World

Published: 2023-04-13 10:57

Last Updated: 2024-04-22 18:00


Zelensky tells IMF rebuilding Ukraine can 'return the normal life'
Zelensky tells IMF rebuilding Ukraine can 'return the normal life'

Ukrainian President Volodymyr Zelensky urged support for rebuilding in Ukraine.

- World Bank pledges USD 200 million to repair Ukraine energy infrastructure -

The World Bank announced Wednesday a grant of USD 200 million toward repairing Ukraine's energy infrastructure, as Ukrainian officials met with financial institution leaders in Washington.

More than 50 percent of Ukraine's power infrastructure was damaged over the autumn and winter months, the global lender said in a statement.

The funds were provided by the Ukraine Relief, Recovery, Reconstruction and Reform Trust Fund (URTF), with a goal of up to USD 300 million in additional funding from partners "as the project expands its scope," the Bank said.

The project will target emergency repairs to electricity and heating infrastructure.

"Energy infrastructure has suffered USD 11 billion in damages over the last year and is one of the most critical areas where Ukraine needs urgent support," said World Bank Managing Director of Operations Anna Bjerde.

The World Bank has mobilized more than USD 23 billion in financing for Ukraine since the start of the war in February last year, with USD20 billion disbursed so far.

The announcement came just ahead of a roundtable on Ukraine at the headquarters of the International Monetary Fund (IMF), held during the crisis lender's spring meetings.

During the event, Ukrainian President Volodymyr Zelensky thanked partners via videolink for their support and urged further backing.