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Ukraine to receive additional $200m from World Bank

The money will be used to restore the energy sector.

Ukraine to receive additional $200m from World Bank
Photo: Denys Shmyhal's press service

The World Bank will provide Ukraine with an additional $200m for energy recovery, Prime Minister Denys Shmyhal has reported.

"The funds raised from the World Bank will be used to rebuild the power grid and heat supply systems in Kyiv, Kharkiv, Mykolayiv, Sumy and towns of Chernihiv Region," Shmyhal said.

He added that at the meeting with the World Bank representatives, they discussed the work within the framework of the Financial Ramstein.

Shmyhal also said that the government and the World Bank are also preparing a project to insure war risks for foreign investment. This will make it possible to attract investment now, without waiting for the war to end.

The prime minister said that Ukraine's recovery programme would be the largest reconstruction project in Europe since World War II.

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