– There is an urgent need to repair infrastructure in Ukraine after Russia bombed civilian targets. That's why I'm glad that today we signed a NOK billion deal that will quickly contribute to that," said Foreign Minister Anniken Huitfeldt.
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Minister of Foreign Affairs Huitfeldt signed an agreement with the World Bank Country Director for Ukraine, Moldova and Belarus Arup Banerji in Oslo.
– The World Bank is an actor with a proven ability to act, which has mobilized widely and quickly to support Ukraine. By transferring money through the World Bank, we can be sure that it will be used effectively and will go to the agreed goals. It also ensures coordination with other donors so that our assistance is as effective as possible, says the head of the MFA.
The new Norwegian contribution is channeled through the World Bank Trust Fund for Relief and Reconstruction in Ukraine. This is the Reconstruction and Reform Trust Fund (URTF). Through this fund, the bank will continue to mobilize emergency support for the Ukrainian authorities, in parallel with support for the repair of vital infrastructure and long-term reconstruction.
Dramatic consequences for the economy of Ukraine
Russia's aggressive war against Ukraine has dramatic consequences for Ukraine's economy. Targeted attacks on civilian infrastructure have led to a dire need for its repair and rapid reconstruction. The humanitarian consequences of these attacks are severe and are exacerbated by winter and cold. The Norwegian grant contribution through the World Bank will have a flexible structure. It will contribute to the repair, rehabilitation and preparation for the reconstruction of critical infrastructure.
Norway had previously provided budget support of NOK 300 million to the Ukrainian authorities through the World Bank. The support is intended for salaries for medical personnel, teachers, state administration employees, as well as for the payment of pensions and social assistance.
So far, the government has allocated a total of NOK 14,4 billion this year and next year to support Ukraine and neighboring countries. Read more about the support distribution here: Norwegian support for Ukraine and neighboring countries – regjeringen.no
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Photo: Marte Lerberg Kopstad, Ministry foreign affairs/Minister of Foreign Affairs Anniken Huitfeldt signs the agreement together with the World Bank's regional director for Ukraine, Moldova and Belarus Arup Banerji.
Source: regjeringen
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