The World Bank will provide Ukraine with $84 million — where will this money be spent — the program isRecovery

The World Bank will provide Ukraine with $84 million. These funds will be used to rebuild housing damaged by the Russian aggression within the framework of the “eRecovery” program. The decision on additional financing was approved by the World Bank Board of Directors on May 9. And on May 15, representatives of Ukraine and the bank signed a corresponding agreement.

This was reported by the Ministry of Finance of Ukraine.

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The agreement on additional financing between Ukraine and the International Development Association was signed on the Ukrainian side by the Deputy Prime Minister for the Reconstruction of Ukraine — Minister of Community and Territorial Development of Ukraine Oleksiy Kuleba, and on the World Bank side by the World Bankʼs Regional Director for Eastern Europe Bob Som.

It is expected that the allocated money will be used to restore 25 000 houses. The funds were allocated for the project “Housing Repair for the Restoration of Rights and Empowerment of People (HOPE)”. Its goal is to address urgent and critical needs for the repair of partially damaged individual and multi-apartment residential buildings that have suffered due to the armed aggression of the Russian Federation. Under the terms of the program, the houses for restoration must be located in territorial communities that are currently under the control of Ukraine.

In total, over 87 000 households received compensation for damaged property through the HOPE program. Additional funding for the project was provided under the International Development Associationʼs Special Recovery Program for Ukraine and Moldova (IDA SPUR) Crisis Fund.

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