Ukraine attracts EUR 200 million from the EIB for community recovery projects: Oleksii Kuleba

The Cabinet of Ministers of Ukraine has approved decisions to attract EUR 200 million from the European Investment Bank (EIB) to continue the implementation of two large-scale projects.

The funds will be used to continue the Ukraine Recovery Programme III and the Ukraine Water Supply and Sewerage Rehabilitation Project.

“We have received the Government’s approval to raise funds from one of our key international partners, the European Investment Bank. At a time when russian aggression is destroying Ukrainian towns and villages every day, we are not just eliminating the consequences – we are building a new, modern, better one. Recovery is about returning to normal life,” said Oleksii Kuleba, Deputy Prime Minister for Restoration of Ukraine and Minister for Communities and Territories Development.

According to him, one of the EUR 100 million tranches is aimed at rebuilding water supply, sewerage and modernisation of systems in communities.

“The project provides support for investments in the restoration and reconstruction of water infrastructure. In particular, it includes the reconstruction and rehabilitation of water supply and sewerage facilities, the implementation of measures to restore, rebuild and improve critical and social infrastructure, optimise existing systems and bring them in line with higher standards of sustainable development.

Water quality, stable water supply, modern sewage treatment plants are the basic things without which it is impossible to imagine a comfortable and safe life in a community. We want Ukrainian communities to be better off after reconstruction than they were before the war. This is the meaning of true recovery,” said Oleksii Kuleba.

Another tranche is aimed at continuing to support communities that have been affected by the war or have hosted a significant number of internally displaced persons. The programme finances projects to restore social infrastructure, housing and communal facilities, build and overhaul housing, and provide municipal housing. The projects are selected through a digital system that ensures transparency and efficiency in the use of funds.

“This programme works with a clear focus on the needs of people – the funding provides for the implementation of about 200 projects. All of them are subject to a thorough competitive selection process and must be substantiated, detailed and realistic. Thanks to the transparent mechanism, we can see how the funds are distributed and who is responsible for their use. This is fundamentally important, especially in times of war,” stressed the Deputy Prime Minister.

Recently, 14 new projects have been approved under the programme, including housing construction and repair in Dnipropetrovsk, Kirovohrad and Cherkasy regions. In total, 225 projects worth more than EUR 500 million are being implemented under the previous two phases of the programme.