The International Bank will provide Ukraine with $50 million to restore logistics

The International Bank for Reconstruction and Development (IBRD) will provide $50 million to restore Ukraine’s logistics.

On February 10, Minister of Community Development, Territories and Infrastructure Oleksandr Kubrakov and Regional Director of the World Bank for Eastern Europe Arup Banerjee signed a Grant Agreement between Ukraine and the International Bank for Reconstruction and Development of the International Bank for Reconstruction and Development of the project “Restoration of critical logistics infrastructure and network connectivity (RELINC)”.

As part of the agreement, the bank will allocate the first $50 million in grant funds to meet the critical needs of the State Agency for Reconstruction and Development of Infrastructure of Ukraine and Ukrzaliznytsia.

The total cost of the project is almost $600 million, of which $500 million will be provided by the IBRD. The rest of the funds are planned to be raised through donor grants that will come through the Ukrainian Trust Fund for Renovation, Restoration and Reconstruction (URTF) and other trust funds.

Thanks to this agreement, Ukraine will be able to finance the purchase of modular road bridges and materials for urgent road repairs. The funds will also be directed to the production of fitting platforms to increase the volume of container transportation, as well as the purchase of materials and equipment for the repair of important railway bridges.

The project “Restoration of Critically Important Logistics Infrastructure and Network Connectivity (RELINC)” is aimed at the rapid restoration and improvement of transport networks necessary for the provision of humanitarian aid, support for Ukrainian exports and, in general, the development of logistics infrastructure at the borders of Ukraine and the EU.

Management and administration of the project will take place with the involvement of the United Nations Office for Project Services (UNOPS). In particular, the organization specializes in post-war reconstruction projects or infrastructure restoration after natural disasters. UNOPS works in more than 80 countries, successfully implementing thousands of projects every year.