Ukraine begins selecting recovery projects to be funded by EIB

MOSCOW. May 25 (Interfax) - The European Investment Bank (EIB) together with Ukraine's Ministry of Communities, Territories and Infrastructure has given a start to the selection projects to rebuild, renovate and refurbish schools, kindergartens, administrative centers and housing and utility facilities and projects aimed at providing housing to internally displaced persons, Ukrainian media said, citing the ministry's press service.

The projects will be financed in line with an agreement signed by Ukraine and EIB under the Ukraine Recovery Projects (local administrations' projects) and the Emergency Loan Program for the Reconstruction of Ukraine (projects of utility enterprises and municipalities).

The projects will also be implemented in regions where infrastructure is under the strain due to the presence of a large number of internally displaced persons, the press service said. The timeline for the projects' implementation ranges from one year to three years depending on the program. Funds will be disbursed to communities as subventions from the state budget.

The deadline for submitting applications under the Ukraine Recovery Program is June 25, 2023, and June 2 for the Emergency Loan Program.