KIEV, March 3 – The Ukrainian government and the World Bank today officially launched the implementation of the Power Transmission Project, worth $238 million, aimed at increasing the reliability and effectiveness of the operation of the Ukrainian electricity grid.

"This is a long-term project that will help integrate the Ukrainian energy sector with the energy sector of the European Union, which is one of the major directions of the Ukrainian government's policies," World Bank Director for Ukraine, Belarus and Moldova Martin Raiser said at a press conference on Tuesday.