On 28 August, a meeting of the Interagency Commission was held to allocate the first tranche of funds from the European Investment Bank (EIB) for the restoration and development of social and critical infrastructure in the regions.

These are the remaining balances of funds received in 2022 from the European Investment Bank (EIB) to the state budget. According to the Government’s decision, these funds will be used for new budget programmes.

According to the procedure, the regional authorities formulate proposals based on expediency, efficiency, coherence, priority and meeting the urgent needs of the population. They are then submitted to the Ministry for Communities, Territories and Infrastructure Development of Ukraine for further consideration by the Interagency Commission.

The Commission has reviewed the first part of the proposals submitted by the regions to finance 165 projects worth UAH 1.9 billion. Of these, 140 meet the requirements and have no objections. The Interagency Commission supports these projects and recommends their approval.

As a reminder, the decision on the Procedure and conditions for the allocation of the European Investment Bank (EIB) funds in the amount of UAH 4.477 billion was adopted by the Government of Ukraine in June 2023. In accordance with this decision, the Ministry for Communities, Territories and Infrastructure Development of Ukraine has been designated as the main spending unit and responsible executor of the subvention from the state budget to local budgets. Priority is given to those regions that have suffered the most from armed aggression or have been most affected by a significant influx of internally displaced persons.