Almost UAH 5 billion from the EIB will support community recovery under Ukraine Recovery Programme III

The Cabinet of Ministers of Ukraine has decided to allocate more than UAH 4.9 billion in European Investment Bank (EIB) funds to recovery projects in communities.

The funds will be provided under the “Ukraine Recovery Programme III” Finance Agreement, Tranche B, between Ukraine and the EIB; communities will receive the funding as a non-repayable subvention.

Support is intended primarily for communities affected by the war or hosting large numbers of internally displaced persons.

“This is an important regional development tool that gives communities additional resources for recovery and for creating better living conditions. The mechanism is already working. This year, 125 facilities were financed under the previous tranche. We are now preparing the next projects so that available international resources contribute as much as possible to the capacity and development of Ukrainian communities,” said Vitalii Bezghin (Vitaliy Bezgin), Minister for Communities, Territories and Internally Displaced Persons.

The main funding areas are:

water supply and wastewater disposal — restoration and modernisation of systems,

social infrastructure — restoration and development of facilities important to communities, including educational and healthcare institutions;

social housing for IDPs — to provide displaced persons with adequate living conditions.

Under the procedures of the Finance Agreement, projects must complete the required selection stages and be approved by the European Investment Bank to receive funding under this programme.

Background: The “Ukraine Recovery Programme III” Finance Agreement, Tranche B, between Ukraine and the European Investment Bank provides for a total loan of EUR 100 million.