The EU credit bank will allocate €100 million to Ukraine for the reconstruction of water pipes and sewage systems

Ukraine and the European Investment Bank (EIB) have agreed on EUR 100 million in funding for the reconstruction of water and sewerage systems, Prime Minister Denys Shmyhal said on Telegram, UNN reports.

Details

"Ukraine and the European Investment Bank have agreed on EUR 100 million in funding under the Ukraine Facility instrument," Shmyhal said.

According to him, these funds will be used to rebuild water and sewerage systems and bring them up to modern standards.

"Another government decision today paves the way for a new EIB tranche of EUR 100 million to restore critical and social infrastructure," the Prime Minister said.

Here, according to him, we are talking about reconstruction in the fields of water and heat supply, in education, medicine, in the field of housing for internally displaced persons.

"Thanks to cooperation with the EIB under this program, we are implementing more than 400 projects, some of which have already been completed. More than 200 more will be finalized this and next year," the head of government said.

Shmyhal also announced the attraction of EUR 100 million or more than UAH 4.8 billion from the Council of Europe Development Bank under the HOME project. These funds will be used to pay compensation to owners of destroyed housing under the eRecovery program.

"Last year, the Bank helped finance 2.8 thousand housing certificates. Thanks to the new funding, we will be able to pay for another 3.6 thousand certificates for the purchase of housing," he said.

In addition, the Prime Minister announced a decision on providing housing for internally displaced persons. "The Council of Europe Development Bank provides Ukraine with EUR 50 million. These funds will be enough for concessional lending to about 1,100 families of IDPs," Shmyhal said.

In addition, according to him, the World Bank helps to finance reconstruction projects in the housing sector, in particular through the NORE initiative. More than 87,000 Ukrainians have already received compensation for damaged housing through it. "And we also plan to restore up to 200 multi-storey buildings within the NORE project," the head of government noted.

Addition

In general, the portfolio of all EIB projects in Ukraine, according to Shmyhal, is about EUR 4.3 billion today. They concern critical infrastructure, housing, energy, transport, education, social policy, digitalization.

Today, the EIB's shareholders are 27 countries of the European Union. The European Investment Bank not only carries out lending activities, but also acts as the largest borrower of funds in the international financial capital markets.