The World Bank will provide Ukraine with $70 million to support the energy system

Ukraine will receive $70 million from the World Bank to support the energy system. Photo: Denys Shmyhal

The World Bank will provide Ukraine with $70 million to maintain the stability of the Ukrainian energy system.

This was announced by Prime Minister Denys Shmyhal.

He said that the relevant agreement was signed in Washington on 25 April with the Bank's Managing Director Anna Bjerde.

«The funds will be used to purchase energy storage systems by «Ukrhydroenergo». This will allow us to create a stock of electricity and strengthen our energy resilience», added Denys Shmyhal.

As a reminder, Ukraine needs $17.3 billion for priority recovery in 2025, but has so far managed to raise only $7.4 billion.