The World Bank plans to allocate $40 million to purchase equipment to restore Ukraine’s power grid. The funds will be used to support the energy sector, which has suffered significant damage as a result of attacks by the Russian Federation.
This was announced by Energy Minister Denys Shmyhal after talks with World Bank Managing Director for Operations Anna Bjerde.
The parties agreed on further support for the Ukrainian energy sector.
“I thanked the World Bank for its continued support of Ukraine, in particular our energy system. We agreed on further assistance: the World Bank plans to allocate up to USD 40 million to Ukrenergo for the purchase of equipment necessary to restore the energy system,” the statement said.
The specific equipment to be purchased with World Bank funds was not specified.
Shmyhal also reported that he had held an online meeting with Polish Energy Minister Milosz Motyka.
“I thanked him for the high level of support for Ukraine. The Polish government has provided 141 humanitarian shipments and EUR 3.1 million to the Ukrainian Energy Support Fund. We particularly appreciate the Polish people’s initiative to raise funds for generators. This is a manifestation of true friendship and humanity,” the statement said.