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PM Shmyhal, World Bank managing director discuss financial support for Ukraine

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Prime Minister of Ukraine Denys Shmyhal has discussed financial support and reconstruction of Ukraine with World Bank Managing Director of Operations Axel van Trotsenburg and World Bank Vice President Anna Bjerde.

Shmyhal wrote this in a Facebook post, Ukrinform reports.

“At a meeting with Managing Director Axel van Trotsenburg and Vice President Anna Bjerde in New York, we discussed financial support for Ukraine through World Bank instruments. During the first days of Russia’s full-scale invasion, the World Bank quickly mobilized its resources to help our country. Since February 24, through the Bank’s instruments, loans and grants, including from the USA and Great Britain, have been raised for a total sum of about $11 billion. We are grateful to our partners for their rapid decisions. We expect that the pace of cooperation will not slow down next year as well, and we look forward to starting cooperation in the energy sector,” Shmyhal wrote.

The parties also discussed the restoration of Ukraine. According to Shmyhal, the World Bank is actively working on the creation of new mechanisms for attracting grants and investments for the restoration of Ukraine.

“I thanked for conducting a rapid damage assessment, which was presented in Brussels on September 9. According to the World Bank, as of June 2022, $350 billion is needed to restore Ukraine,” the Ukrainian prime minister said.

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