Financial sector news

Ukraine has received €46.1 million in loans from the European Investment Bank (EIB) to implement four urban development projects. The funding was transferred to a special fund of the state budget.

The projects are as follows:

• €13.3 million for the Municipal Infrastructure Development Program;
  
• €13.3 million for the “Urban Public Transport in Ukraine” project;
  
• €14.7 million for the “Urban Public Transport in Ukraine 2” project;
  
• €4.8 million for the “Energy Efficiency of Public Buildings in Ukraine” project.

The funds received will be used to modernize water supply and sanitation systems, recultivate the Hrybovychi landfill near Lviv, improve the energy efficiency of public buildings, and purchase public transport rolling stock for a number of Ukrainian cities — Kyiv, Lviv, Mykolaiv, Zaporizhzhia, Uzhhorod, Ternopil, Kam'yanske, Dnipro, and Kremenchuk.

In total, the EIB has already provided Ukraine with over €168 million for the implementation of these programs, of which €121.1 million has been allocated specifically for the modernization of public transport. The loans are provided under the EU's Ukraine Facility initiative, guaranteed by the European Commission.

“EIB financing helps Ukrainian communities to modernize transport, improve energy efficiency, and develop urban infrastructure. This is extremely important when all of the state's internal resources are focused on defense,” said Deputy Minister of Finance Olga Zykova.
“We greatly appreciate this support and look forward to further expanding cooperation within the framework of EU guarantee mechanisms.”

The European Investment Bank is one of Ukraine's key partners in the restoration of critical infrastructure. Currently, the EIB's loan portfolio in our country covers 27 projects with a total value of €4.7 billion, aimed at repairing roads, bridges, energy facilities, medical institutions, and social infrastructure.