The Board of Directors of the World Bank has approved a new support package titled “Creating Resilient Infrastructure in a Vulnerable Environment in Ukraine (DRIVE)” amounting to $432 million. This financial package aims to assist the Ukrainian government in strengthening the resilience of the national road network and enhancing the efficiency of operations in the transport sector.
This is reported by Business • Media
The DRIVE project complements the existing project “Restoration of Core Logistics Infrastructure and Connectivity (RELINC)”, under which modular road bridges were supplied and 200 flatcars were manufactured.
It is noted that since the onset of the war in February 2022, Ukraine’s transport infrastructure has suffered significant damage, leading to disruptions of critical routes for imports and exports. In particular, 30% of state roads and bridges have sustained considerable destruction.
The financing for the DRIVE project consists of several components: a loan of $212 million from the International Bank for Reconstruction and Development under the Targeted Fund for Providing Necessary Credit Support to Ukraine (ADVANCE Ukraine); a loan of $210 million from the Special Program for the Recovery of Ukraine and Moldova (SPUR); and a grant of $10 million from the Targeted Fund for the Recovery of Ukraine (URTF).