• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Monday, August 4, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

World Bank approves $200m for infrastructure repair in Ukraine

World Bank

The Matters Press by The Matters Press
April 12, 2023
Reading Time: 2 mins read
0
World Bank predicts 4% global economic growth, 1.1% for Nigeria in 2021

The World Bank announced on Wednesday a grant financing of 200 million dollars for a project that will repair Ukraine’s energy infrastructure.

RELATED POSTS

National Single Window initiative, a major step for efficient cross-border trade – TMSG

‎Group celebrates 45% increase in federal revenue in just one month

Alleged Wasteful Turn Around Maintenance (TAM) of Refineries: Setting the records straight

This was contained in a statement issued by the World Bank in statement and said the funds for this project were provided by the Ukraine Relief, Recovery, Reconstruction and Reform Trust Fund(URTF)

It said additional funding of up to 300 million dollars was envisaged to come from partners through grants and other contributions as the project expands its scope.

“The Restoration Project of Winterization and Energy Resources will support emergency repairs to the electricity transmission and heating infrastructure by urgently procuring critical equipment.

“Emergency electricity equipment includes autotransformers, transmission transformers, switchgears and circuit breakers, relay protection devices, and other equipment.

” Emergency equipment for the heating infrastructure includes mobile heat-only boilers, mobile mini cogeneration units, as well as other equipment and parts to repair district heating networks.”

The statement quoted the World Bank Managing Director of Operations, Anna Bjerde as saying “now in its second year, Russia’s invasion of Ukraine continues to have devastating economic and humanitarian consequences.

Bjerde said energy infrastructure had suffered 11 billion dollars in damages over the last year and was one of the most critical areas where Ukraine needed urgent support.

“We are grateful for strong partnership with Ukraine and development partners to support this critical sector and act fast.”

The statement said during the fall and winter months, no fewer than 50 per cent of Ukraine’s power infrastructure was damaged.

It said this resulted in power outages across the country and contributed to shortages of food, heating, and water.

The statement said millions of Ukrainians had limited access to electricity and many areas had only a few hours of supply per day.

“The energy grids in Kharkivska, Donetska, Khersonska, and Zaporizka regions along the war’s frontline have been most affected.”

It said due to Ukraine’s ongoing efforts to repair the power systems, most power plants had connected back to the grid.

The statement said there had also been almost no major blackouts in major cities over the last month.

“However, significant damages to transmission substations continue to constrain their output, leading to scheduled load shedding and outages in most regions.”

The statement quoted the World Bank Vice-President for Europe and Central Asia, Antonella Bassani as saying “restoring energy infrastructure is one of the key investment needs for Ukraine at this time.”

“This is critical both for recovery efforts and for resuming disrupted economic production and flows.”

According to the statement, restoring the energy grid is a top priority the Government of Ukraine has identified for 2023, as it accounts for 11 per cent of estimated needs.

” This is according to the updated Rapid Damage and Needs Assessment (RDNA2) released in March.

It said URTF was set up by the World Bank to coordinate grant financing for sustaining Ukraine’s government functions, delivering services, and implementing relief efforts.

The URTF is a flexible platform that allows the World Bank to prioritise and channel funding to the most urgent development needs identified by the Ukrainian government.

” It has contributions from Austria, Canada, Iceland, Japan, Lithuania, the Netherlands, Norway, Sweden, and Switzerland.”

The statement said to date, the World Bank has mobilised more than 23 billion dollars in emergency financing for Ukraine, including commitments and pledges from donors.

It said more than 20 billion dollars of this financing has been disbursed through several projects, including Public Expenditures for Administrative Capacity Endurance (PEACE) Project.

Tags: World Bank
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Importers face delays, higher costs on Red Sea woes
Economy/Technology

National Single Window initiative, a major step for efficient cross-border trade – TMSG

August 4, 2025
Chatham House stance on Nigeria’s economy, a non-biased assessment of  reforms
Economy/Technology

‎Group celebrates 45% increase in federal revenue in just one month

July 28, 2025
POLICY STATEMENT 027 BY THE INDEPENDENT MEDIA AND POLICY INITIATIVE (IMPI)
Economy/Technology

Alleged Wasteful Turn Around Maintenance (TAM) of Refineries: Setting the records straight

July 25, 2025
Dangote Fertilizer in gas supply deal
Economy/Technology

IMPI seeks forensic audit of refineries from 2000 to 2023 ‎ ‎

July 25, 2025
Nigeria’s Dangote refinery will cut Africa’s petrol import by 36%
Economy/Technology

‎ADC erred, APC administrations never spent $18bn on refineries-IMPI ‎

July 25, 2025
Nigerian firms to handle $4b gas project
Economy/Technology

ADC’s claim on refinery sale, horrendous half truth

July 23, 2025
Next Post
First bank commits to spur SMEs

FirstBank announces corporate name change of subsidiaries

Bayelsa state wants more investment from Shell

Shell denies breach of Nigerian Content Law

Recommended Stories

Anambra commissions master plan for rail projects

September 13, 2023
Obi, PDP candidate advises Buhari to increase tempo

Group faults Peter Obi’s claim on deteriorating education sector

May 16, 2025
Blackout hits Nigeria as grid collapses again

Collapsed national grid restored – TCN

December 11, 2023

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • National Single Window initiative, a major step for efficient cross-border trade – TMSG
  • ‎Group celebrates 45% increase in federal revenue in just one month
  • Alleged Wasteful Turn Around Maintenance (TAM) of Refineries: Setting the records straight

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us