The World Bank loans $100 million for the 3R (reconnect, recover, revitalize) project in Eastern Ukraine. According to the World Bank, the financial support will focus on Government-Controlled Areas (GCAs) of Luhansk Oblast, which have experienced the most severe economic downturn due to conflict, bringing in much-needed investments to improve transport connectivity and promote agricultural sector recovery. The project will support public-private investment forums to raise awareness and promote investment opportunities in the region.
“This is the first loan in the World Bank’s portfolio, targeted to help the Government of Ukraine deliver on its commitment to outreach and development support for conflict-affected populations. The 3R project builds on the World Bank’s national portfolio of investments and sector knowledge in transport, agriculture, and land reform, extending this support to Eastern Ukraine. Thousands of people in conflict-affected communities will benefit from 3R project investments,” says Arup Banerji, World Bank Regional Country Director for Eastern Europe (Belarus, Moldova, and Ukraine).
Currently, the World Bank’s investment portfolio in Ukraine amounts to $2.8 billion in nine ongoing investment projects.
