The World Bank will provide Ukraine with 300 million euros to finance the presidential programme of energy independence, as Deputy Prime Minister of Economy Yulia Svyrydenko announced.

According to the Ukrainian official, a large-scale thermal modernization program is designed to significantly reduce the energy consumption of Ukrainians and, accordingly, energy costs.

Svyrydenko discussed key issues of deepening of partnership with World Bank Regional Country Director Arup Banerji on December 14.

Programme participants will be able to reduce energy consumption and utility payments by 60%. Already in 2022, we plan to cover up to 5,000 multi-apartment buildings throughout the country.

Yulia Svyrydenko, Deputy Prime Minister of Economy

She added that Ukraine and the World Bank are preparing a document that will determine the Partnership Strategy for 2022-2026. It will outline the terms of cooperation in the field of mechanical engineering, energy, agriculture, construction and information technology, introduction of e-governance and digitalization, expansion of export markets, and enhancement of the competitiveness of Ukrainian green technologies.

Another priority is the expansion of public-private partnerships and overall improvement of the business climate. Cooperation with the World Bank is important for us not only due to financial support for important projects but also as expert assistance in implementing reforms.

As reported, Ukraine will receive an additional $150 million from the World Bank to overcome the COVID-19 pandemic.