The Government of Ukraine today signed with the European Investment Bank (EIB) and the multi-donor fund E5P (the Eastern Europe Energy Efficiency and Environment Partnership) a EUR 5.11m grant agreement to support the Mykolaiv Vodokanal project. Funding will be directed to the rehabilitation and modernization of the water facilities of Mykolaiv Vodokanal.
The agreement was inked by Vice Prime Minister - Minister of Regional Development, Construction, Housing and Communal Services of Ukraine Hennadii Zubko and the Vice-President of the European Investment Bank (EIB) Vazil Hudák.
"This is an incredibly important project for the city and its citizens, and I thank our European colleagues for the assistance provided. Mykolaiv Vodokanal project implementation will contribute not only to the modernization of water services and the introduction of new technologies, but primarily to the complete renovation of the existing infrastructure of the communal enterprise. The time frame for the implementation of this project is short and we will see the first results in the second quarter of 2019", Hennadii Zubko said.
"The support to the Mykolaiv Vodokanal project demonstrates the commitment of the EU and the international community to improve the availability of clean water and safeguard the natural environment for the benefit of the citizens of Ukraine. It will also help Ukraine meet its international commitments under the Convention on the Protection of the Black Sea against Pollution", EIB Vice-President Vazil Hudák stressed.
"The project will bring health and environmental compliance with national and international rules and the availability of higher quality of water and wastewater services for the population. The investment supports emergency and efficiency-generating measures for both water supply and wastewater collection and treatment and the extension of piped water supply to areas presently lacking access to quality drinking water", Manager of the E5P Fund Anders Lund said.
The European Investment Bank (EIB) is the European Union's bank. It is the long-term lending institution of the EU and is the only bank owned by and representing the interests of the European Union Member States.
As the world’s largest multilateral borrower and lender by volume, the EIB provides finance and expertise for sound and sustainable investment projects that contribute to furthering EU policy objectives. More than 90% of EIB activity is focused on Europe but it also supports the EU's external and development policies.
The Eastern Europe Energy Efficiency and Environment Partnership (E5P) is a €200 million multi-donor fund designed to encourage investments in energy efficiency and environmental projects in the Eastern Partnership countries. The fund merges financial contributions from the EU and a group of 21 nations, which are then used to leverage national funds and loans from international financial institutions.