Austria is supporting reconstruction in Ukraine and Moldova with 40 million euros. World Bank is closing financing gaps in the repair and reconstruction of transport, energy and health infrastructure in Ukraine
As part of the recently launched special program for Ukraine and Moldova (SPUR) within the International Development Association (IDA), a branch of the World Bank Group, Austria has pledged to invest 30 million euros. In addition, immediate further support of 10 million euros is pledged through the Ukraine Relief, Recovery, Reconstruction and Reform Trust Fund (URTF). In total, Austria is making a further 40 million euros available to support Ukraine and Moldova.
The contribution via the IDA enables the funds to be leveraged to a volume of approximately 90 million euros. The IDA is dedicated to fighting poverty and promoting sustainable development in the world's poorest countries. The 90 million euros will specifically contribute to closing funding gaps in important framework projects in Ukraine in the areas of energy, transport infrastructure and health, as well as supporting projects in Moldova.
Finance Minister Magnus Brunner emphasised on the sidelines of the World Bank/IMF meeting in Marrakesh: "Austria is once again showing its solidarity with countries hit by crises. With this investment, we underline our commitment to supporting reconstruction and recovery in Ukraine and Moldova."
SPUR's total funding goal is $6 billion. The bulk of this amount, $5.7 billion, is earmarked for Ukraine affected by Russia's war of aggression, while Moldova is to receive $300 million.
Austria has so far supported Ukraine with 750 million euros
Austria has already made financial contributions to support the people of Ukraine in the past. In total, Austria's bilateral and multilateral aid to Ukraine amounted to 750 million euros by July 2023.
With the new commitments, Austria reaffirms its role as a reliable partner within the international community and underlines the country's commitment to peace and stability in Europe.