Ukraine implements nearly 100 projects under EIB emergency loan program

MOSCOW. March 12 (Interfax) - Ukraine has implemented 97 regional projects as of March 2024 as part of the European Investment Bank's (EIB) emergency loan program for Ukraine's restoration, known as the Ukraine Early Recovery Program, and funds have also been allocated for 66 other projects in 2024-2025.

"In a partnership with the government of Ukraine and the European Commission, we have developed the recovery programs. We stand ready to develop this support further," Ukrainian media quoted EIB Vice-President responsible for operations in Ukraine Teresa Czerwinska as saying in a statement cited by the bank's press release.

The Ukrainian government allocated a total 161 million euros in subsidies to local budgets to fund projects planned to be carried out in 2024-2025. Financing has been earmarked for 155 projects under the Ukraine Recovery Program and for 66 projects under the Ukraine Early Recovery Program.

These initiatives aim to restore social infrastructure such as hospitals, schools, water and waste facilities in a number of Ukrainian regions.

The Ministry for Communities, Territories and Infrastructure Development of Ukraine coordinates the programs together with the Finance Ministry, while the reconstruction projects are fully managed by local authorities. The United Nations Development Program in Ukraine provides technical assistance for the initiative.

As reported, the Ukraine Early Recovery Program, with a funding of 200 million euros, expires in December 2024. The Ukraine Recovery Program, with a funding of 340 million euros, is also a framework loan agreements between the EIB and Ukraine signed in 2020.