World Bank Allocates $432 Million for Ukraine’s Transportation
The Prime Minister of Ukraine, Denys Shmyhal announced on his social media that Ukraine will receive $432 million from the World Bank to rebuild its transportation infrastructure.
The agreements between the Ministry of Development and the World Bank were signed today in Kyiv.
According to the Rapid Damage and Needs Assessment, the road infrastructure has suffered greatly due to the Russian invasion, with 58 percent of the transport sector affected: 30% on state roads and bridges, 11% on local roads and bridges, and 17% on communal roads.
This arrangement is part of the Delivering Resilient Infrastructure in Vulnerable Environments (DRIVE) project. It includes major repairs of roads and bridges in 19 regions, reform of national highways, installation of modular bridges, and technical assistance.
The DRIVE project was approved by the World Bank’s Board of Directors late last month. The financing includes $212 million from the International Bank for Reconstruction and Development, with support from the Government of Japan, and $10 million from the Trust Fund for Support, Recovery, Rehabilitation, and Reform of Ukraine.
As The Gaze previously reported, the World Bank provided $2 billion Tranche to Ukraine, partially funded by frozen Russian assets.
Read more: A Realistic Model For The Use of Frozen Russian Assets