The European Investment Bank (EIB) will provide €450 million to Ukraine for two critical infrastructure rebuilding projects, Ukraine’s Ministry of Community and Territorial Development announced on 2 November.
The first two tranches of €100 million each could be approved shortly, likely by the end of 2023, from the total €450 million allocated.
The funds will go towards:
- The €250 million Ukraine Recovery III project, with a first tranche of €100 million, aimed at financing urgent social and municipal infrastructure repairs and construction of new basic infrastructure to support displaced persons and host communities.
- The €200 million Ukraine Water Recovery project, also with a first €100 million tranche, intended to finance investments in water infrastructure directly damaged by the war or serving high numbers of internally displaced persons (IDPs). This includes restoring water supply and sanitation, and addressing the fallout from Russia’s destruction of the Kakhovka dam.
The EIB aid comes under a Memorandum of Understanding signed in June 2022, envisaging approximately €840 million in EIB loan for priority Ukraine infrastructure recovery projects.
The funds will help rebuild Ukraine’s critical systems destroyed by Russia’s aggression and provide essential services for civilians impacted by the war. Securing financial support from European institutions affirms the bloc’s commitment to stand with Ukraine through rebuilding efforts.
Read also:
- Security Council: Ukraine gears up for Russia’s winter attacks on critical infrastructure
- Finland preparing new aid package for Ukraine to protect critical infrastructure
- Germany grants EUR 76 million to protect Ukraine’s energy infrastructure
- Ukraine to order 100 transformers to bolster energy infrastructure against Russia’s attacks
