The Cabinet of Ministers of Ukraine has decided to allocate over UAH 4.9 billion to finance local recovery projects. The funding is provided by the European Investment Bank under a loan agreement. This was reported by Ukrinform citing the Ministry for Communities, Territories and Internally Displaced Persons, according to the portal PromPolitInform.
The financial resources are being allocated under the Ukraine Recovery Programme III Tranche B agreement signed between Ukraine and the European Investment Bank. Local communities will receive these funds in the form of non-repayable subventions.
State support is primarily targeted at war-affected territories and regions accommodating large numbers of internally displaced persons.
Minister for Communities Vitalii Bezghin noted that 125 infrastructure facilities have already been funded this year under the previous tranche. The next pool of projects is currently being prepared.
Funds to Target Water Supply, Healthcare, and Housing
The key investment areas include the rehabilitation and modernisation of water supply and wastewater systems. Financing will also cover educational and healthcare facilities, as well as social housing for displaced persons.
To secure funding, all submitted initiatives must pass competitive selection stages and receive official approval from the European Investment Bank.
The total volume of the Ukraine Recovery Programme III Tranche B agreement amounts to EUR 100 million in loans from European partners.
Illustrative photo: Caroline Martin / CC BY-SA 3.0 igo
