The World Bank announced on Wednesday a grant of $200 million toward repairing Ukraine's energy infrastructure, as officials from the war-torn country met with financial institution leaders in Washington.
The funds were provided by the Ukraine Relief, Recovery, Reconstruction and Reform Trust Fund , with a goal of up to $300 million in additional funding from partners"as the project expands its scope," the Bank said. FILE PHOTO
The World Bank has mobilized more than $23 billion in financing for Ukraine since Russia invaded in February last year, with $20 billion disbursed so far. "By rebuilding what has been ruined, we defeat the goal of terror, we return the normal life," he said in English, reiterating a call for Russian assets to be put towards Ukraine's reconstruction.
The sum is an increase on the $349 billion estimated in September and is likely to only grow as the conflict continues.Ukrainian Prime Minister Denys Shmygal, who attended the IMF meeting in person, urged allies to stump up the $11 billion still needed in financing.
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