World Bank to provide Ukraine with grant of $70 mln to strengthen energy system – Shmyhal

The World Bank will provide Ukraine with grant financing in the amount of $70 million to support the stability of the national energy system, the Telegram channel of Prime Minister of Ukraine Denys Shmyhal reported on Friday.

“The corresponding agreement was signed on Thursday in Washington with Managing Director of the World Bank Anna Bjerde,” the message says.

The funds received will be used to purchase energy storage systems for the company Ukrhydroenergo. This will allow creating a reserve of electricity and strengthening the country’s energy stability.

“We thank the World Bank and all partners for supporting Ukraine’s energy sector, which has suffered significant damage as a result of Russian attacks,” Shmyhal wrote.

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