The money will be used to overcome the consequences caused by Russia’s armed aggression and restore Ukraine’s housing infrastructure.
Ukraine’s state budget received part of a $49.4 million grant from the Japanese government as part of the World Bank’s Housing Rehabilitation for People’s Empowerment (HOPE) project. The Ministry of Finance announced this on Friday, February 16.
It is indicated that the grant funds are used to return the expenses of the state budget that were used for compensation payments to homeowners for the repair of apartment buildings and private buildings that received moderate damage and not in need of major repairs.
“The funds are used to overcome the consequences caused by Russia’s armed aggression and to restore Ukraine’s housing infrastructure,” said Finance Minister Sergei Marchenko.
Also, in the near future, Ukraine expects funding from the governments of Japan and Norway through the World Bank project “Supporting Public Expenditures to Ensure Sustainable Public Administration in Ukraine” (PEACE in Ukraine). The funding partially reduces the costs of the state budget of Ukraine for payments to teachers, first responders and pension payments.
We remind you that Ukraine’s total losses during the entire invasion of Russia are almost $499 billion. At the same time, the financial need to restore the country is about $486 billion. For this amount, $15 billion should be spent on “quick recovery.”
Source: korrespondent
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