EIB To Provide EUR 100M To Ukraine For Social Infrastructure Reconstruction

(MENAFN- UkrinForm) The European investment bank will provide Ukraine with €100 million to restore and modernize social infrastructure.

That's according to the Ukrainian Ministry of Finance , Ukrinform reports.

“On June 11, 2024, as part of the Ukraine Recovery Conference, the government of Ukraine signed a financing agreement with the European Investment Bank under the Recovery III project,” the report says.

The project aims to restore and modernize basic social services in the sectors of education, healthcare, housing for internally displaced persons, social security, as well as restore and modernize critical infrastructure in the affected areas and in the regions hosting the largest number of IDPs.

Read also: EIB to provide EUR 560M for projects in Ukraine this yea

"The European Investment Bank plays an important role as a financial partner of Ukraine in the implementation of a number of projects in many sectors of the economy. In this difficult time for our country, sustainable economic development, along with meeting the basic needs of citizens and returning Ukrainians home, is impossible without efficiently functioning key critical and social infrastructure facilities," said Deputy Finance Minister Olga Zykova.

According to the Finance Ministry, the portfolio of joint projects in the public and private sectors is the largest in all the years of Ukraine's cooperation with the Bank - more than EUR 7 billion, and since the beginning of the full-scale war, the volume of EIB investments has been more than EUR 2 billion. The investment sample in 2023 was the largest in the years of cooperation with the EIB.

As reported, the EIB will provide up to EUR 30 million to support Ukrainian small and medium-sized businesses.



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