The European Investment Bank (EIB) allocates €840 million for the implementation of infrastructure restoration projects in Ukraine.
The memorandum on this was signed by Minister of Reconstruction of Ukraine Oleksandr Kubrakov and EIB President Werner Heuer during a conference in London.
The money will be used to restore communal infrastructure (schools, hospitals, etc.), public buildings with energy efficiency in mind, water supply and drainage infrastructure, as well as transport networks and urban public transport.
Along with this, the EIB will finance the development of digital transformation and strengthening of cyber security.
The memorandum also envisages cooperation between Ukraine and the EIB regarding the use of a special trust fund from the EIB EU for Ukraine Fund and lending to projects in Ukraine with the support of the guarantees of the European Fund for Sustainable Development Plus (EFSD+).
The Ministry of Reconstruction and the EIB will also work on the implementation and application of a package of technical and consulting assistance to Ukraine in the amount of approximately €100 million.
- The European Investment Bank is one of the largest creditors of Ukraine. It implements projects totaling more than €7 billion.
- During the Ukraine Recovery Conference, the US announced a new $1.3 billion aid package, and the UK stated it would provide Ukraine with an additional $300 million to support humanitarian, recovery and reform programs. Also, during the conference in London, Britain announced the provision of financial assistance to Ukraine in the amount of $3 billion over the next three years.