The World Bank has approved a $60 million loan as additional financing for the Hydropower Rehabilitation Project in Ukraine. The World Bank has approved a $60 million loan as additional financing for the Hydropower Rehabilitation Project in Ukraine.

The bank's Board of Executive Directors took the decision at a meeting on Thursday, Nov. 19.

The bank said in a statement that the loan would be allocated for 12 years with a grace period of six years.

The additional financing aims to improve the operational stability and reliability of the power supply by increasing the regulating capacity, efficiency, and safety of hydroelectric plants, and as a result, facilitating unimpeded operations and opening up the electricity market in Ukraine.

The additional loan will help make up a financing shortfall for the rehabilitation of the Kremenchuk hydropower plant and two hydropower plants on the Dnipro.