15 Jun 2023 09:20

World Bank's grant fund for Ukraine exceeds $900 mln

MOSCOW. June 15 (Interfax) - The governments of Iceland, Latvia and the Netherlands have made new grant contributions to the World Bank's Ukraine Relief, Recovery, Reconstruction and Reform Trust Fund (URTF).

"With Iceland's contribution of ISK 500 million ($3.6 million), Latvia's EUR 2 million, the Netherlands' EUR 60 million, the URTF's funding has now reached more than $920 million," the World Bank said in a statement.

Latvia is the latest donor to join the URTF, while the Netherlands and Iceland have contributed previously - $95 million and $3 million, respectively, it said.

As reported, World Bank Group President David Malpass said in mid-April that the bank expected to increase the size of the URTF, through which Ukraine receives some of the financing provided by donors, to $2 billion.

The URTF is a multi-donor trust fund facility supporting the World Bank's emergency operations in Ukraine in critical sectors such as transport, energy and health.

Several projects in Ukraine have already benefitted from URTF funds, including the Restoration Project of Winterization and Energy Resources, the Repairing Essential Logistics Infrastructure and Network Connectivity (RELINC) project and the Health Enhancement and Lifesaving in Ukraine (HEAL) project.

According to information on the World Bank website, the URTF's largest donor is Japan, which has contributed $417 million. It is followed by Norway, which has provided $100 million, Canada $86 million, Switzerland $58 million, Austria $21 million, Sweden $14 million, and Lithuania $5 million.