World Bank to allocate $40M to Ukraine to restore energy system

The World Bank (WB) will allocate $40 million to NPC Ukrenergo to purchase equipment necessary to restore the energy system after the Russian attacks, Denys Shmyhal, Ukrainian First Deputy Prime Minister and Minister of Energy, said following a conversation with the WB's Managing Director of Operations Anna Bjerde, Report informs.

"Had a conversation with Anna Bjerde. I thanked the World Bank Group for its consistent support for Ukraine, in particular for our energy system. We agreed on further assistance: the World Bank plans to allocate up to USD 40 million grant for NPC Ukrenergo to procure equipment needed to restore energy system capacity. We continue working together to strengthen Ukraine's energy system," Shmyhal wrote on X.