The World Bank will provide Ukraine with $70 million in grant funding to support the stability of the national energy system, according to a statement posted on Ukrainian Prime Minister Denys Shmyhal’s Telegram channel on Friday.
“The agreement was signed on Thursday in Washington with World Bank Managing Director Anna Bjerde,” the statement said.
The funds will be used to purchase energy storage systems for the company Ukrhydroenergo. This will allow the creation of electricity reserves and strengthen the country’s energy security.
“We thank the World Bank and all partners for their support to Ukraine’s energy sector, which has suffered significant damage as a result of Russian attacks,” Shmyhal wrote.
