On September 5, a corresponding agreement was signed between the Ministry of Finance of Ukraine and the World Bank within the Housing Repair for People’s Empowerment – HOPE project with a total funding amount of $800M.
The initial funding of $232M will be directed to solving urgent and critical needs in repairing partially damaged individual and multi-apartment residential buildings in territories controlled by Ukraine. The financing consists of a $162.2M grant from the Multi-Donor Trust Fund (URTF) and a $70M loan from the IBRD under guarantee of the Japanese government.
The HOPE project aims to create appropriate conditions for the return of Ukrainians to the territories affected by hostilities in the liberated regions of Ukraine.
As of February 2023, the total cost of damage to the housing sector of Ukraine was estimated at more than $50B.