Ukraine to receive $70M from World Bank to support energy system – Shmyhal

The World Bank will provide Ukraine with $70 million to help maintain the stable functioning of its energy system.

Ukrainian Prime Minister Denys Shmyhal said this in a post on Facebook, according to Ukrinform.

“The relevant agreement was signed today in Washington with World Bank Managing Director of Operations Anna Bjerde,” he said.

He said the funds would be used by Ukraine’s hydro-electric company Ukrhydroenergo to purchase energy storage systems.

“This will allow for electricity reserves to be built up and will strengthen our energy resilience,” Shmyhal said.

He thanked the World Bank and all international partners for supporting Ukraine’s energy sector, which has suffered significant damage due to Russian attacks.

Photo credit: Denys Shmyhal / Facebook

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