EIB to provide EUR 7 mln grant to support infrastructure projects in Ukraine

The European Investment Bank and the Ministry of Community and Territorial Development of Ukraine have signed a grant agreement in the amount of EUR 7 million, which will be used to prepare and implement the Recovery Program in Ukraine.

The ministry's press service says several hundred small and medium-sized projects at the municipal level will be financed through the said program.

"It is about restoring social infrastructure, improving utilities, repairing damaged administrative buildings and key social infrastructure (including hospitals, schools, kindergartens, and sports facilities)," the report says.

Read alsoFinance Ministry says EIB loans to help solve social problems in DonbasIt is expected that the projects implemented under the program will benefit more than 13 million residents, as well as stimulate regional development and speed up economic growth.

The ministry added that the grant is provided under the EU Neighborhood Investment Platform (NIP).

UNIAN memo. The European Investment Bank is the world's largest international borrower and lender in terms of volumes, providing financing and expertise for reliable and stable investment projects that contribute to the achievement of EU policy objectives.