Ukraine, WB agree on $6b recovery program

Ukraine and the World Bank Group have agreed on a special program to respond to the challenges and restore Ukraine, which will enable Kiev to attract up to 6 billion U.S. dollars, the government press service said on Tuesday, reported Xinhua.

According to Ukrainian Prime Minister Denys Shmyhal, the funds, which will be raised through the International Bank for Reconstruction and Development (IBRD), will be used to restore critical, social and transport infrastructure in Ukraine.

The recovery program is due to be approved and launched this year, Shmyhal said.

Besides, Ukraine will implement joint projects with the World Bank on rebuilding its energy sector, including the heating system, as well as transport and healthcare sectors.

The total value of the projects is estimated at more than 1.45 billion dollars.