Ukrainian communities will receive almost UAH 5 billion from the EIB for reconstruction
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The Cabinet of Ministers will allocate over UAH 4.9 billion of funds from the European Investment Bank (EIB) for projects to restore and develop Ukrainian communities.
This was reported by the Ministry of Community Development, Territories and Infrastructure.
The financing is provided within the framework of the financial agreement “Ukraine Recovery Program III” Tranche B between Ukraine and the EIB. Communities will receive these funds in the form of a non-refundable subvention.
Support will primarily be provided to communities that have suffered from war or have hosted a significant number of internally displaced persons.
The funds are planned to be directed to:
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- restoration and modernization of water supply and wastewater systems;
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- development of important infrastructure facilities, including schools and medical facilities;
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- creation of social housing for displaced persons.
Minister of Community Affairs Vitaliy Bezgin reported that 125 projects have already been financed within the previous tranche this year. New projects are currently being prepared.
To receive financing, projects must go through the necessary selection and approval stages with the EIB.
The total loan amount under the “Ukraine Recovery Program III” Tranche B is EUR 100 million.
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