REUTERS
The European Investment Bank (EIB) will provide Ukraine with a EUR 400 million framework loan for the restoration and development of municipal infrastructure in the country, the bank has reported.
According to the report, the corresponding decision was made by the EIB board of directors on May 19 this year.
"The project will extend the life of critical urban infrastructure in the energy, water and sanitation sectors, reducing losses, improving energy efficiency, reducing the intensity of greenhouse gas (GHG) emissions, and contributing to the security of energy and water supply," the statement reads.
The funding will also support the country's transition, as well as encourage economic and sector reforms and sustainable development, the bank said.
It is also reported that the total project cost is estimated at EUR 800 million, and that it was developed in collaboration with the Ministry of Regional Development, Construction and Housing and Communal Services of Ukraine.
As UNIAN reported earlier, the Board of Directors of the European Investment Bank (EIB) approved new loans totaling EUR 1 billion for Ukraine as part of a EUR 3 billion package of special measures for the country for the period 2014-2016.