On December 9, the Government of Ukraine and the European Investment Bank (EIB) signed three loan agreements worth EUR 640 million for the development of social and road infrastructure. Of these, EUR 340 million for the infrastructure rehabilitation program in eastern Ukraine and the regions hosting internally displaced persons. The Ministry for Communities and Territories Development is the responsible executor of the program.
"At the expense of credit funds, we will be able to restore the infrastructure, improve the living conditions of residents of the regions affected by the conflict in eastern Ukraine. Projects aimed at renovating and modernizing schools, kindergartens, hospitals, administrative buildings, as well as improving housing and communal services, including street lighting, sewerage systems and municipal transport, will be funded. That is, the regions will develop and strengthen the economy," said Minister of for Communities and Territories Development of Ukraine Oleksii Chernyshov.
The loan will allow controlled by Ukrainian authorities Donetsk and Luhansk regions, neighboring Kharkiv, Dnipropetrovsk, Kherson and Zaporizhia regions, as well as regions hosting large numbers of internally displaced persons, to receive practical support to mitigate the effects of the conflict.
It is necessary to ratify the loan agreement during the first half of next year, and only aftermath the work on the projects begins.
It should be noted that this loan complements the Emergency Loan Program for the Reconstruction of Ukraine - a long-term investment totaling EUR 200 million, aimed at rebuilding critical infrastructure. It includes a total of 246 projects, 31 of which have already been completed. All others are due to be finalized during the next year.