These funds will reimburse the costs of repairs for 98,000 individual houses and 8,000 families in 160 apartment buildings from five regions that were affected by the Russian Federation’s invasion, the World Bank said.
$70M of this is a loan from the International Bank for Reconstruction and Development, secured by a guarantee from the Japanese government, and $162.5M is a grant from the multilateral donor Trust Fund for the Support of Reconstruction and Reform of Ukraine. It is noted that additional financing of up to $800M is expected later from the World Bank and partners in the form of credit guarantees, grants, and other contributions.
The project will help thousands of Ukrainian families and support the government in laying the foundation for a sustainable, inclusive, and green recovery. The organization noted that “The WB supports Ukraine on its way to restoring housing and other urban infrastructure.”