Norway provides $190 million grant for Ukraine's reconstruction

Norway has made a grant contribution to the World Bank's Ukraine Recovery, Rehabilitation, Trust Fund (URTF) for NOK 2 billion (USD 190 million).

According to Ukrinform, this was reported by the World Bank.

"The Government of Norway has made a grant contribution to the World Bank's Ukraine Recovery, Rehabilitation, Transition and Reform Trust Fund (URTF) in the amount of NOK 2 billion (USD 190 million) to support the capacity of the Ukrainian government to provide services, including investments in the repair of destroyed infrastructure," the statement said.

It is noted that this is the second tranche provided by Norway to the URTF after a grant contribution of $ 100 million, an agreement on which was signed in December 2022.

Norway's contribution brings the URTF budget to more than $1.1 billion, underscoring the international community's commitment to Ukraine's recovery.

"The current assistance will help maintain critical infrastructure and the daily delivery of essential public services. Our assistance through the World Bank is also a contribution to the reform process that is needed to promote economic growth, as well as to rebuild and European integration after the war," said Norwegian Foreign Minister Anniken Gueitfeldt.

According to her, this contribution is part of Norway's five-year support package for Ukraine, which means that the assistance is long-term.

As reported, the URTF is a multi-donor trust fund created to channel grant resources from donor partners to the most important sectors of Ukraine's economy. The URTF focuses on supporting such critical sectors as transportation, energy, and healthcare.

Author - Serhii Kolomiets, 30/06/2023